Using the ratios from requirement 1, assess Best Buy's liquidity and solvency relative to its industry. The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio Required: Determine the following balance sheet items: 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities 67, $ 840,000 $2,800,000 2.25 1.2 1.8

2. Using the ratios from requirement 1, assess Best Buy's liquidity and solvency relative to its industry. The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Required: Determine the following balance sheet items: 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities 6,7