Modern Bike’s balance sheet appears as follows (amounts in thousands):

Use the following ratio data to complete Modern Bike’s balance sheet.
1. Current ratio is 1.40.
2. Acid-test ratio is 0.45.

Transcribed Image Text:

Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Plant Assets, Net Other Assets Assets Total Assets MODERN BIKE COMPANY Balance Sheet December 31, 2024 17,000 Total Current Liabilities (a) Long-term Note Payable Other Long-term Liabilities Total Liabilities 152,400 (c) (b) (d) 420,000 Liabilities $ 1,480,000 Stockholders' Equity Stockholders' Equity Retained Earnings Total Liabilities and Stockholders' Equity $ 380,000 (g) 144,000 (f) 37,000 703,000 (e)