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Use the following to answer questions 1 9 2 4 The following information is from the company s 1 2 / 3 1 balance sheet,

Use the following to answer questions 1924
The following information is from the companys 12/31 balance sheet, listed in alphabetical order:
Accounts payable $20,000 Inventory $200,000
Accounts receivable 45,000 Land 450,000
Automobiles, net 250,000 Long-term investment 200,000
Bond payable 1,000,000 Notes payable, due 11 months 250,000
Buildings, net 980,000 Patents 30,000
Common stock 450,000 Payroll taxes payable 5,000
Cash 40,000 Prepaid expenses 8,000
Income tax payable 35,000 Retained earnings 385,000
Interest payable 60,000 Supplies 2,000
19. $__________. How much are the current assets?
20. $__________. How much are the total assets?
21. $_________. How much are the current liabilities?
22. $_________. How much are the total liabilities?
23. $_________. How much is the total stockholders equity? 24.__.____ What is the current ratio, (round to two decimal places)?

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