Prepare a balance sheet from the following information. What is the net working capital and debt ratio?
DATA
Cash	$50,000
Account receivables	42,700
Accounts payable	23,000
Short-term notes payable	10,500
Inventories	40,000
Gross fixed assets	1,280,000
Other current assets	5,000
Accumulated depreciation	312,000
Long-term debt	200,000
Common stock	490,000
Other assets	15,000
Retained earnings	?
SOLUTION
Balance Sheet:
Cash
Accounts receivable
Inventories
Other current assets
Total current assets
Gross fixed assets
Accumulated depreciation
Net fixed assets
Other assets
Total assets
Notes payable
Accounts payable
Total current liabilities
Long-term debt
Total liabilities
Common stock
Retained earnings
Total equity
Total liabilities and equity
Net Working Capital
Debt Ratio