The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following:

Inventories	$	960,000
Total assets	$	3,200,000
Current ratio		2.40
Acid-test ratio		1.20
Debt to equity ratio		1.5

Required:

Determine the following 2016 balance sheet items:

The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following:

Inventories	$	960,000
Total assets	$	3,200,000
Current ratio		2.40
Acid-test ratio		1.20
Debt to equity ratio		1.5

Required:

Determine the following 2016 balance sheet items:

The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following:

Inventories	$	960,000
Total assets	$	3,200,000
Current ratio		2.40
Acid-test ratio		1.20
Debt to equity ratio		1.5

Required:

Determine the following 2016 balance sheet items:

1. Current Assets

2. Shareholders equilty

3. Noncurrent assets

4. Long- term liabilities