THE ANSWER IS NOT 21% OR 0.2% can you give me a few answers to try? Thank you! b. Prepare a pro forma balance sheet with any financing adjustment made to long-term debt. (Do not round intermediatecalculations. Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter theanswers in millions. Round the final answers to 2 decimal places.)CashAccounts receivableInventoryCurrent assets.Capital AssetsTotal assetsAssetsesCurrent ratioTotal debt / assets$8.813.223.1Year 145.145.190.2Balance Sheet($ millions)2.7 X36.6%Liabilities and Shareholders' EquityAccounts payableAccrued wagesAccrued taxesCurrent liabilitiesLong-term debtCommon stockRetained earningsTotal liabilities and shareholders' equityYear 2$2.7 X8es$esc. Calculate the current ratio and total debt to assets ratio for each year. (Do not round intermediate calculations. Round the finalanswers to 1 decimal places.)$6.65.54.416.519.062034.6490.2

Total debt to total assets ratio: It is a ratio that shows the relationship between the total debt…

b. Prepare a pro forma balance sheet with any financing adjustment made to long-term debt. (Do not round intermediate calculations. Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the answers in millions. Round the final answers to 2 decimal places.) Cash Accounts receivable Inventory Current assets Capital Assets Total assets Assets $ Current ratio Total debt assets $ 8.8 13.2 23.1 Year 1 45.1 45.1 90.2 Balance Sheet ($ millions) 2.7 X 36.6% Liabilities and Shareholders' Equity Accounts payable Accrued wages Accrued taxes Current liabilities Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity Year 2 c. Calculate the current ratio and total debt to assets ratio for each year. (Do not round intermediate calculations. Round the fir answers to 1 decimal places.) es 2.7 X 8 6.6 5.5 4.4 16.5 19.06 20 34.64 90.2

b. Prepare a pro forma balance sheet with any financing adjustment made to long-term debt. (Do not round intermediate calculations. Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the answers in millions. Round the final answers to 2 decimal places.) Cash Accounts receivable Inventory Current assets Capital Assets Total assets Assets $ Current ratio Total debt assets $ 8.8 13.2 23.1 Year 1 45.1 45.1 90.2 Balance Sheet ($ millions) 2.7 X 36.6% Liabilities and Shareholders' Equity Accounts payable Accrued wages Accrued taxes Current liabilities Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity Year 2 c. Calculate the current ratio and total debt to assets ratio for each year. (Do not round intermediate calculations. Round the fir answers to 1 decimal places.) es 2.7 X 8 6.6 5.5 4.4 16.5 19.06 20 34.64 90.2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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