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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 Balance Sheet N 3 4
Q1. (30 marks) A skeleton of Heuristic Solution's balance sheet appears as follows (amounts in thousands): A B D 1 Balance Sheet N 3 4 Total current liabilities Long-term debt Other long-term liabilities $ 253 (a) 555 (b) (c) $ 1,164 (e) 826 3 4 5 6 Cash Receivables Inventories Prepaid expenses Total current assets Property, plant, and equipment, net Other assets Total assets 6 7 Common shares Retained earnings Total liabilities and shareholders' equity 185 2,846 (d) 1,150 $ 6,315 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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