PDF Inter 1 hiTerry Solution #04 (1).pc X + X O File | C:/Users/luanlinh2403/Downloads/Inter%201%20hiTerry%20Solution%20%2304%20(1).pdf . . . 4 of 5 - +2 A' Read aloud | Draw V Highlight Erase Terry Co. Balance Sheet As of December 31 2019 2018 Current Assets Cash $1,729,890 $810,000 A/R $364,500 $1,377,000 Allowance for Bad Debts $25,515) ($405,000) Due from First National Bank $21,870 Inventory $1,944,000 $2,268,000 Prepaid Insurance $184,000 $243,000 Prepaid Utilities $202,500 $162,000 Total Current Assets $4,421,245 $4,455,000 Long-term Investments Loans to other businesses $648,000 $648,000 Expansion Fund $486,000 $486,000 Total Long-term Investments $1, 134,000 $1,134,000 PPE Land $1,782,000 $1,134,000 Building $1,296,000 $1,296,000 Equipment $4,536,000 $2,106,000 Accumulated Depreciation ($2,592,000) ($1,620,000) Total PPE $5,022,000 $2,916,000 ntangible Assets Patents $243,000 $243,000 Total Assets $10,820,245 $8,748,000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable $363, 174 $972,000 Income Tax Payable $244,371 $162,000 Unearned Revenue $405,000 $243,000 Wages Payable $194,400 $202,500 Recourse Liability 54,675 Current Portion of Loan Payable $81,000 $81,000 Total Current Liabilities $1,342,620 $1,660,500 Long-term Debt Loan Payable $405,000 $2,268,000 $486,000 Notes Payable $1,296,000 Total Long-term Debt $2,673,000 $1,782,000 Total Liabilities $4,015,620 $3,442,500 Stockholders' Equity Common Stock $1,900,000 $1,900,000 ($1 par, $3,800,000.00 authorized, $1,900,000 outstanding Additional Paid-In Capital $486,000 $486,000 Retained Earnings $4,418,625 $2,919,500 Total Stockholders' Equity $6,804.625 $5,305,500 Total Liabilities and Stockholder's Equity $10,820,245 $8,748,000 Type here to search O ENG 8:03 PM 10/21/2020Bb Home Page - ROSTE X Inter 1 Terry Case Ter X Inter 1 hiTerry Solutic X Inter 1 - Terry Co. Cas X (1) TIA x fueled b 41 X Mail - Nguyen, Linh | X + X C a dropbox.com/s/pl95ubn5h8ylk34/Inter%201%20hiTerry%20Solution%20%2304.pdf?dl=0 G To . . . Ratio Analysis After the Change Quick Ratio Cash+Equivalents+A/R, net $2,090,745 - Current Liabilities $1,342,620 - = 1.557 A/R Turnover Net Sales $15,236, 100 _ Average A/R, net $666,428 = 22.862 Current Ratio Current Assets $4,421,245 Current Liabilities $1,342,620 3.293 ROA Net Income $1,769, 125 = 0.181 Average Total Assets $9,784,123 Type here to search X [(') ENG 7:59 PM 10/21/2020