Reference no: EM131643721

Question - The following items are taken from the financial statements of BCT Company for 2013:

Cash $138,800

Accounts Payable 75,000

Supplies 15,000

Accounts Receivable 35,000

Inventory 45,000

Salaries Payable 30,000

Unearned Revenue 45,000

Property, plant, and equipment, net 318,000

Intangible assets 260,000

Common Stock 100,000

Additional Paid-in Capital 400,000

Retained Earnings, 12/31/2012 21,000

Long-term debt 90,000

Service revenue 746,000

Cost of Goods Sold 639,200

Rent expense 30,000

Supplies expense 5,000

Insurance expense 21,000

Instructions:

(1) Create a classified balance sheet in good form for the year ended 2013.

(2) Calculate the current ratio and debt ratio and explain your findings.