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Please provide steps and calculations in detail, thank you Problem 12-1A Corporate balance sheet preparation LO2 CHECK FIGURES: Total assets =$546,400; Total equity =$301,800 Required
Please provide steps and calculations in detail, thank you
Problem 12-1A Corporate balance sheet preparation LO2 CHECK FIGURES: Total assets =$546,400; Total equity =$301,800 Required Using the information from the alphabetized post-closing trial balance below, prepare a classified balance sheet for Sassy Pharmaceuticals Inc. as at March 31, 2023. Be sure to use proper form, including all appropriate subtotals. $56.000 of the notes payable will be bad by March 31,2024 . Analysis Component: 1. What percentage of the assets is financed by debt? 2. What percentage of the assets is financed by equity? 3. Assuming that 37% of the company's assets were financed by debt at March 31,2022 , has the balance sheet been strengthened over the current year? Note: When a balance sheet is said to have been strengthened, it means, in general, that total liabilities (or risk associated with debt financing) have decreased and equity has increasedStep by Step Solution
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