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

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A skeleton of Gunner Corporation’s balance sheet appears as follows (amounts in thousands):

A1 Balance Sheet 2 Cash 3 Receivables 4 Inventories 5 Prepaid expenses Total current assets 7 Plant assets, net 8 Other


Use the following ratio data to complete Gunner’s balance sheet:

a. The debt ratio was 0.56.

b. The current ratio was 1.60.

c. The quick (acid-test) ratio was 0.700.

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Related Book For  answer-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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