Reconsider Lanni Products from the previous problem. a. Prepare its balance sheet just after it gets the

Question:

Reconsider Lanni Products from the previous problem.
a. Prepare its just after it gets the bank loan. What is the ratio of real assets to total assets?
b. Prepare the after Lanni spends the $70,000 to develop its software product. What is the ratio of real assets to total assets?
c. Prepare the after Lanni accepts the payment of shares from Microsoft. What is the ratio of real assets to total assets?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...