As of December 31,1996, Yosemite Corporation has a current ratio of \(2.6: 1\) and working capital of \(\$ 600,000\). Yosemite's total debt is \(60 \%\) of its total assets. All of Yosemite's long-term assets, which are exactly half of total assets, are properly categorized as property, plant, and equipment.

\section*{Instructions}

Prepare a summary classified balance sheet for Yosemite Corporation at year-end 1996. (Hint: First calculate Yosemite's current asset and çurrent liability amounts.)