Question

Selected accounts of Browne Irrigation Systems at December 31, 2012, follow:


Requirements
1. Prepare the company’s classified balance sheet in report form at December 31, 2012.
2. Compute the company’s current ratio and debt ratio at December 31, 2012. At December 31, 2011, the current ratio was 1.83 and the debt ratio was 0.39. Did the company’s ability to pay debts improve or deteriorate, or did it remain the same during2012?


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  • CreatedMarch 22, 2012
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