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The post-closing trial balance of Chester Company at December 31, Year 1 is as follows: Exit Credit $ Debit 20,000 32,000 48,000 80,000 140,000 $
The post-closing trial balance of Chester Company at December 31, Year 1 is as follows: Exit Credit $ Debit 20,000 32,000 48,000 80,000 140,000 $ 88,000 Cash Marketable securities Accounts receivable Inventory Equipment Accumulated depreciation Land Accounts payable Unearned revenue Notes payable - due in 6 months Bonds payable - due in 20 years Common stock Retained earnings Totals 200,000 72,000 8,000 40,000 80,000 100,000 132,000 520,000 $ 520,000 $ Calculate the applicable ratios necessary to evaluate the liquidity and solvency of this company (and list your conclusion about each)
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