Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use All-Star Health's Balance Sheet to determine the company's debt ratio. Balance Sheets 2019 2018 Assets Cash $ 45,000 $ 52,000 Accounts receivable 458,000 401,000

image text in transcribedimage text in transcribed

Use All-Star Health's Balance Sheet to determine the company's debt ratio. Balance Sheets 2019 2018 Assets Cash $ 45,000 $ 52,000 Accounts receivable 458,000 401,000 Inventories 765,200 701.300 Total current assets $1,268,200 $1,154,300 Gross fixed assets 527,000 491,000 Less accumulated depreciation 166,200 146,200 Net fixed assets $ 360,800 $ 344,800 Total assets $1,629.000 $1,499, 100 Liabilities and Equity Accounts payable $ 175,200 $ 145,600 Notes payable 225,000 230,300 Net fixed assets $ 360,800 $ 344,800 Total assets $1,629,000 $1,499, 100 Liabilities and Equity Accounts payable $ 175,200 $ 145,600 Notes payable 225,000 230,300 Accruals 140.000 136,000 Total current liabilities $ 540,200 $ 511,900 Long-term debt 424,612 323,432 Common stock (100,000 shares) 460,000 460,000 Retained earnings 204 188 203.768 Total equity $_664,188 $ 663.768 Total liabilities and equity $1,629.000 $1.499 100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus And Its Applications

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

14th Edition

0134437772, 9780134437774

Students also viewed these Finance questions