The following information has been provided for the City of Elizabeth for its fiscal year ended June 30, 2017 The information provided relates to financial information reported on the city's staterment of net position and its total Revenues accrued but unavailable to pay the current period expenditures Accumulated depreciation on capital assets $364,400 641,500 356,600 2,800 177,400 2,300 16,500 162,500 612,800 interest on bonds and long-term notes payable Bonds and long-term notes payable Unamortized premium on bonds payable Compensated absences Total gove Total net position of governmental activities mmental fund balances 0 Required Prepare reconciliation of the governmental fund balances to the net position of govenmental activities. CITY OF Reconciliation of the Balance Sheet-Governmental Funds to the Statement of Net Position June 30, 2017 Total fund bala mental funds nts reported for governmental activities in the statement of net position are different because: reported by funds reported by fund therefore are not reported in the funds Capital assets used in governmental activities are not financial resources and therefore are not Other assets used in govemmental activities are not financial resources and therefore are not Long-term liabilities, including bonds efore is not included in the funds Net of tal activities Refer to the following selected financial information from Shakley's Incorporated. Compute the company's debt- lo-equily rabo for Y Cost of goods sold Interest expense Net Net income after tax Total assets Total liabilities Total equity $ 485,000 277,600 11,000 68,550 47,350 319,700 174,900 144,800 $ 427,550 251,420 12,000 53,980 41,200 295,800 168,600 127.200 before tax 1.83. 1.21. 2.21 0.83. 3.35