Question: Ridgeway Company has the following assets and liabilities: Assets Cash Equipment Amount $4,000 $8,500 Accounts Receivable $2,800 Prepaid Insurance $1,200 Inventory $1,300 Liabilities Amount Accounts Payable $6,500 Notes Payable $4,000 What is Ridgeway Company's total equity?

Assets: Cash Accounts receivable (net) Investments Inventory Prepaid rent Total current assets Property & Equipment, (net) Total assets $66 179 55 200 28 528 264 $792 Liabilities and Stockholder's Equity: Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity What is the debt to equity ratio? (Round your answer to two decimal places.) $246 81 327 118 445 156 191 347 $792

Calculate the following for Co. XYZ:   a. Current ratio   b. Debt ratio       Assets:   Cash and marketable securities $400,000 Accounts receivable 1,415,000 Inventories 1,847,500 Prepaid expenses 24,000 Total current assets $3,686,500 Fixed assets 2,800,000 Less: accumulated depreciation 1,087,500 Net fixed assets $1,712,500 Total assets $5,399,000 Liabilities:   Accounts payable $600,000 Notes payable 875,000 Accrued taxes  Total current liabilities $1,567,000 Long-term debt 900,000 Owner's equity  Total liabilities and owner's equity  Co. XYZ Income Statement:   Net sales (all credit) $6,375,000 Less: Cost of goods sold 4,375,000 Selling and administrative expense 1,000,500 Depreciation expense 135,000 Interest expense  Earnings before taxes $765,000 Income taxes  Net income  Common stock dividends $230,000 Change in retained earnings

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