A skeleton of Vintage Mills balance sheet appears as follows (amounts in thousands): Use the following ratio

A skeleton of Vintage Mills’ balance sheet appears as follows (amounts in thousands):

Use the following ratio data to complete Vintage Mills’ balance sheet.
a. Current ratio is 0.80.
b. Acid-test ratio is0.40.

Transcribed Image Text:

VINTAGE MILLS Balance Sheet December 31, 2015 Assets Liabilities Cash Accounts Receivables Merchandise Inventory Prepaid Expenses $75 Total Current Liabilities $1,900 a) Long-term Note Payable 750 Other Long-term Liabilities (Total Liabities 980 Total Current Assets Plant Assets, Net Other Assets Total Assets Stockholders' Equity 2,000 Stockholders' Equity $ 6,800 Total Liabilities and Stockholders' Equity 2,325 (g)