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Please I need help with this I have less than 2 1/2 hours (TCO A) The following items are taken from the financial statements of
Please I need help with this I have less than 2 1/2 hours
(TCO A) The following items are taken from the financial statements of SGB Company for 2013: $300,000 Cash 150,000 Accounts Receivable 70,000 Inventory 13,000 Accounts Payable 20,000 Supplies 10,000 Salaries Payable 25,000 Unearned Revenue 98,000 Intangible assets 176,000 Property, plant, and equipment, net 50,000 Common Stock 150,000 Additional Paid-in Capital 78,300 Retained Earnings, 12/31/2012 275,000 Long-term debt 483,700 Service revenue 170,000 Cost of Goods Sold 50,000 Rent expense 15,000 Supplies expense 36,000 Insurance expense Instructions: (1) Create a classified balance sheet in good form for the year ended 2013. (30 points) (2) Calculate the current ratio and debt ratio and explain your findings. (6 points) (Points : 36)Step by Step Solution
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