XYZ Inc. bought land and built its plant 5 years ago. Land is not depreciated. The depreciation on the building and plant is

calculated using the straight-line method, with a life of 15 years and a salvage value of $1,500,000. The depreciation for

the equipment, all of which was purchased at the same time the plant was constructed, is calculated using

declining-balance method with depreciation rate of 15%.

Complete the Balance Sheet below and find:

The value for the Total Assets = ? (4 point)

The value for the Accounts Payable = ? (4 points)

The value for the Acid-Test Ratio = ? (4 points)

The value for the Return-on-Equity Ratio = ? (4 points)

Note:

This is a MULTIPLE-ANSWER problem, you have to select one correct answer for each of the above 4 questions.

If you can not see the statements, click to open the file: Ch6-Q3.pdf Or, please go to the folder to download this file.

		Total Assets = 10,109,263.
		Total Assets = 11,930,980.
		Total Assets = 12,546,035.
		Total Assets = 13,350,410.
		Accounts Payable = 817,376.
		Accounts Payable = 859,000.
		Accounts Payable = 900,000.
		Accounts Payable = 937,567.
		Acid-Test Ratio = 1.5171
		Acid-Test Ratio = 1.9842
		Acid-Test Ratio = 2.0165
		Acid-Test Ratio = 3.1136
		Return-on-Equity Ratio = 0.3735
		Return-on-Equity Ratio = 0.4414
		Return-on-Equity Ratio = 0.4979
		Return-on-Equity Ratio = 0.5414