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The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2018, balance

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2018, balance sheet revealed the following: Inventories Total assets Current ratio Acid-test ratio Debt to equity ratio $850,000 $2,900,000 2.60 1.60 1.9 Required: Determine the following 2018 balance sheet items: 1. Current assets 2. |Shareholders' equity 3. Long-term assets 4. Long-term liabilities

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