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Q1. (30 marks) A skeleton of Heuristic Solution's balance sheet appears as follows (amounts in thousands): A B D 1 N $ 1,164 (e) 826
Q1. (30 marks) A skeleton of Heuristic Solution's balance sheet appears as follows (amounts in thousands): A B D 1 N $ 1,164 (e) 826 4 5 3 4 5 6 Cash Receivables Inventories Prepaid expenses Total current assets Property, plant, and equipment, net Other assets Total assets Balance Sheet $ 253 Total current liabilities (a) Long-term debt 555 Other long-term liabilities (b) (c) Common shares (d) Retained earnings 1,150 Total liabilities and $ 6,315 shareholders' equity LO 7 185 2,846 8 9 10 $ Use the following ratio data to complete Heuristic Solution's balance sheet: a. Debt ratio is 0.52. b. Current ratio is 1.20. c. Acid-test ratio is 0.70
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