Question
The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Account Title Debits Credits Cash $ 59,000 Accounts receivable 43,000
The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Account Title Debits Credits Cash $ 59,000 Accounts receivable 43,000 Inventory 49,000 Prepaid insurance 19,000 Equipment 110,000 Accumulated depreciation $ 38,000 Patent (net) 44,000 Accounts payable 14,000 Interest payable 4,000 Notes payable (due in 10 years) 140,000 Common stock 74,000 Retained earnings 54,000 Totals $ 324,000 $ 324,000
a. Calculate the current ratio.
b. Calculate the acid-test ratio.
c. Calculate the debt to equity ratio.
This is what the question is asking for
Current Ratio Numerator==Denominator
Acid-Test Ratio Numerator==Denominator
Debt to Equity RatioNumerator==Denominator
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