Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 20X1. Credit $ Debit 23,500 500 11,200 90,000 $ 5,400 228,000 2,800 1,360 8,400 40,000 172,000 50,400 34,000 15,600 ACCOUNTS Cash Petty Cash Fund Notes Receivable, due 20x2 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment office Equipment Accumulated Depreciation office Equipment Notes Payable, due 20x2 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-term Charles Ronte, Capital (Jan. 1) Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases 48.000 18,400 22.000 10,200 19,600 38.400 520 58,000 14,000 424,060 126,400 238,000 228,000 1,673,000 17,600 1,520 761,000 13,200 Saved Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment office Equipment Accumulated Depreciation-office Equipment Notes Payable, due 20X2 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Dong-term Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 8,400 40,000 172,000 50,400 34,000 15,600 48,000 18,400 22,000 10,200 19,600 38,400 520 58,000 14,000 424,060 126,400 238,000 228,000 1,673,000 17,600 1,520 761,000 13,200 7,840 10,560 193,600 6,500 5,200 263,200 20,900 59, 730 9,200 70,000 3,400 5,600 8,690 5,920 56,000 5,000 5,200 8,400 3,400 7,600 $2,575,500 $2,575,500 Complete this question by entering your answers in the tabs below. Senas Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year SUPERIOR HARDWOOD COMPANY Statent of Owners Equity Required 1 Required 2 > ter 02:15 SUPERIOR HARDWOOD COMPANY Balance Sheet Assets Current sets Prepaid expenses Total current asset Plant and equipment Building Warehouse woment Delivery equipment Warehouse equipment 02657 Delivery equipment Offion equipment Total plant and equipment Total assets Liability and Owner's Equity Currenties Total current abilities Long-tembre Total long-term liabilities Total liabi Owners equity Total abilities and owner's equity What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the current ratio for this business? (Round your answer to 2 decimal places.) Current ratio to 1
