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Determine the following 2011 balance sheet

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Reference no: EM13504951

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable and inventories.  The December 31, 2011, balance sheet revealed the following:      

 

  Given:                                                                                   

            Inventories                                   $840,000                                           

            Total assets                              $2,800,000                                       

            Current ratio                                        2.25                                       

            Acid-test ratio                                       1.2                                       

            Debt to equity ratio                              1.8         

 

 Required:                                                                                           

Determine the following 2011 balance sheet items:                                                                         

            1.  Current Assets                                 

            2.  Shareholders' Equity           

            3. Noncurrent Assets                  

            4. Long-term Liabilities

 

Reference no: EM13504951

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