Traditional Mills's balance sheet appears as follows (amounts in thousands):

Use the following ratio data to complete Traditional Mills's balance sheet.
1. Current ratio is 0.72.
2. Acid-test ratio is 0.36.

Transcribed Image Text:

TRADITIONAL MILLS Balance Sheet December 31, 2018 Liabilities Assets $ 45 Total Current Liabilities $ 2,500 Cash Accounts Receivables (a) Long-term Note Payable (e) 800 other Long-term Liabilities Merchandise Inventory 760 (b) Total Liabilities Prepaid Expenses (f) Total Current Assets (c) Stockholders' Equity Plant Assets, Net (d) 2,490 Stockholders' Equity Other Assets 2,450 $ 7,000 Total Liabilities and Stockholders' Equity Total Assets (g)