The following data (dollar amounts in millions) are taken from the financial statements of Floor 1 Industries,

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The following data (dollar amounts in millions) are taken from the financial statements of Floor 1 Industries, Inc.:
Total liabilities................................. $12,600
Preferred stock................................. $ 0
Total current assets.......................... $11,900
Accumulated depreciation................ $ 1,700
Debt ratio......................................... 60%
Current ratio.................................... 1.70

The following data (dollar amounts in millions) are taken from

Requirement
1. Complete the following condensed balance sheet. Report amounts to the nearest milliondollars.

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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Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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