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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 December 31, 2021 balance
the current asset section of the Excalibur Tire Company's Balance Sheet consists of cash, marketable securities, accounts receivable and inventory. The December 31, 2021 balance sheet received the following:
Inventory $870,000
Total assets $2,800,000
Current Ratio 2.40
Acid test Ratio 1.20
Debt to equity ratio 1.5
Determine the following2021 balance sheet items:
1. Current assets
2. Shareholders equity
3. Long term assets
4. Long term liabilities
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