On a separate sheet of paper, or using a spreadsheet, create a balance sheet for Tropical Aquaculture,

Question:

On a separate sheet of paper, or using a spreadsheet, create a balance sheet for Tropical Aquaculture, a farm for shrimp, using the information below. Calculate and analyze the quick, debt, and debt-to-equity ratios.

Cash	$ 45,000
Accounts receivable	$ 12,000
Shrimp feed	$ 8,400
Accounts payable	$ 9,700
Equipment	$ 75,000
Bank loan	$ 20,000
Property and ponds	$124,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...