The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 1,020,000 $ 3,500,000 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities 2.50 1.50 1.8 Required: Determine the following balance sheet items:

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Ashvinbhai 

The current asset section of the Excalibur Tire Company's balance
sheet consists of cash, marketable securities, accounts receivable,
and inventory. The balance sheet revealed the following:
Inventory
Total assets
Current ratio
Acid-test ratio
Debt to equity ratio
$ 1,020,000
$ 3,500,000
1. Current assets
2. Shareholders' equity
3. Long-term assets
4. Long-term liabilities
2.50
1.50
1.8
Required:
Determine the following balance sheet items:
Transcribed Image Text:The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 1,020,000 $ 3,500,000 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilities 2.50 1.50 1.8 Required: Determine the following balance sheet items:
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