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Use your knowledge of balance sheets and ratio analysis to complete the following abbreviated balance sheet. The current ratio = 1.25, and the debt/equity ratio
Use your knowledge of balance sheets and ratio analysis to complete the following abbreviated balance sheet. The current ratio = 1.25, and the debt/equity ratio = 1.5. Assets Liabilities Current assets $80,000 Current liabilities $64,000 Noncurrent assets $170,000 Noncurrent liabilities $86,000 Total liabilities $150,000 Owner's equity $100,000 Total assets $250,000 Total liabilities and owner equity $250,000 Note: To be awarded partial credit, please provide your work, or thought process for your responses in the space provided below
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