The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities,...

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The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable. and Inventory. The balance sheet revealed the following Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 910,000 $ 3,000,000 2.60 1.30 1.5 Required: Determine the following balance sheet Items 1. Current assets 2. Shareholders' equity 3. Long-term assets 4 Long-term liabilities The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable. and Inventory. The balance sheet revealed the following Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 910,000 $ 3,000,000 2.60 1.30 1.5 Required: Determine the following balance sheet Items 1. Current assets 2. Shareholders' equity 3. Long-term assets 4 Long-term liabilities

Answer rating: 100% (QA)

Debt to equity ratio can be computed as Debt Shareholders Equity Substituting the values 15 Debt Sha... View the full answer