A skeleton of Hollister Mills' balance sheet appears as follows (amounts in thousands): Use the following ratio
Question:
Use the following ratio data to complete Hollister Mills' balance sheet:
a. The current ratio is 0.80.
b. The acid-test ratio is 0.40.
Transcribed Image Text:
HOLLISTER MILLS Balance Sheet December 31 Cash Receiva t liabilities.. (a) Long-term note payable 650 Other long-term liabilities 800 repaidd expenses.aau Total current assets Other a Total assets 2,150 Stockholders' equity 6,800 Total liabilities and equityS (f) 2,250
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