SPORTS UNLIMITED
Balance Sheets
For the Years Ended December 31, 2021 and 2020
			2021	2020
Assets
Current Assets:
Cash			$ 103,500	$ 70,400
Accounts receivable			46,800	32,000
Inventory			44,550	71,200
Prepaid rent			7,200	3,600
Long-Term Assets:
Investment in bonds			54,900	-
Land			117,450	141,600
Equipment			106,200	102,000
Less: Accumulated depreciation			(30,600)	(20,800)
Total Assets			$ 450,000	$ 400,000
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable			$ 30,150	$ 46,800
Interest payable			7,200	3,600
Income tax payable			12,150	10,000
Long-Term Liabilities:
Notes payable			138,150	127,600
Stockholders' Equity:
Common stock			144,000	144,000
Retained earnings			118,350	68,000
Total Liabilities and Stockholders' Equity			$ 450,000	$ 400,000

Part 3

Compute the following key ratios for 2021:

a) Current Ratio

b) Acid Test

c) Total Debt to Assets