The following data are from the financial statements of Borg Company. Current assets . . . .

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The following data are from the financial statements of Borg Company.
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
Compute Borg’s current ratio, debt ratio, asset turnover, returns on assets, and return on equity.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Intermediate Accounting

ISBN: 978-0324312140

16th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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