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The following is a December 31, 2018. post-closing trial balance for Culver City Lighting. Inc. Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated
The following is a December 31, 2018. post-closing trial balance for Culver City Lighting. Inc. Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated depreciation-equipment Patent, net Accounts payable Interest payable Note payable (due in 18, equal annual installments) Common stock Retained earnings Totals Debits Credits $ 56,89 48,8e8 46, 000 16,808 118,800 35,868 41,808 12,588 2,588 118,800 71,808 78,808 $389,eee $389,88 . Calculate the current ratio. . Calculate the acid-test ratio. . Calculate the debt to equity ratio. t Ratio Numerator Current Assets 158.000 S 26,000 6.08 Current Liabilities Acid-Test Ratio Numerator Quick Assets S 98,000 6.40 Current Liabilities S 15,000 Debt to Equity Ratio Numerator Total Liabilities $111,500 0.75 Shareholders' Equity 149,000
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