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The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable. and Inventory. The balance sheet revealed the
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable. and Inventory. The balance sheet revealed the following: Inventory $910,000 Total assets $3,000,000 Current ratio. 2.60 Acid-test ratio 1.30 Debt to equity ratio 1.5 Required: Determine the following balance sheet items: 1. Current assets 2 Shareholders' equity 3. Long-term assets 4. Long-term liabilities
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