The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of...
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The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio = 1.352297; Acid-test ratio = 0.5770067; Debt to equity ratio = 0.6222370. Required: Compute the missing amounts in the balance sheet. Current assets Cash and cash equivalents Accounts and notes receivable Inventory Other Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net Other assets Total long-term assets Total assets Current liabilities Accounts payable Salaries payable Other payables Total current liabilities Long-term debt Balance Sheet At December 31, 2024 ($ in millions) Assets Other long-term liabilities Total long-term liabilities Total liabilities Shareholders' equity Common stock Additional paid-in capital Retained earnings Liabilities and Shareholders' Equity $ Total shareholders' equity Total liabilities and shareholders' equity 1,352 280 1,300 1,182 818 500 3,680 3,330 $ 59 S S 520 480 649 710 1,250 2,609 7,510 12,183 The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio = 1.352297; Acid-test ratio = 0.5770067; Debt to equity ratio = 0.6222370. Required: Compute the missing amounts in the balance sheet. Current assets Cash and cash equivalents Accounts and notes receivable Inventory Other Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net Other assets Total long-term assets Total assets Current liabilities Accounts payable Salaries payable Other payables Total current liabilities Long-term debt Balance Sheet At December 31, 2024 ($ in millions) Assets Other long-term liabilities Total long-term liabilities Total liabilities Shareholders' equity Common stock Additional paid-in capital Retained earnings Liabilities and Shareholders' Equity $ Total shareholders' equity Total liabilities and shareholders' equity 1,352 280 1,300 1,182 818 500 3,680 3,330 $ 59 S S 520 480 649 710 1,250 2,609 7,510 12,183
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Step 13 Compute the missing amounts in the balance sheet Answer Balance sheet At December 31 2024 in ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
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