Rustin Craft discovered a piece of wet and partially burned balance sheet after his office was destroyed

Question:

Rustin Craft discovered a piece of wet and partially burned after his office was destroyed by fire. He could recall a current ratio of 1.75 and a debt to assets ratio of 45 percent.
Assets
Current assets
Cash....................................................................... $ 150,000
Accounts receivable............................................................. (A)
Inventory................................................................... 252,000
Prepaid expenses............................................................ 54,000
Total current assets.............................................................. (B)
Long-term assets
Building........................................................................... (C)
Less: Accumulated depreciation....................................... (180,000)
Total long-term assets................................................... 1,080,000
Total assets..................................................................... $ (D)
Liabilities and Stockholders' Equity
Liabilities
Current liabilities
..................................................$ 252,000
Notes payable............................................................... (E)
Income tax payable................................................... 108,000
Total current liabilities................................................ 480,000
Long-term liabilities
Bonds payable.......................................................... 270,000
Mortgage payable............................................................ (F)
Total liabilities.............................................................. (G)
Stockholders' equity
Common stock........................................................ 540,000
Retained earnings.......................................................... (H)
Total stockholders' equity.................................................. (I)
Total liabilities and stockholders' equity ................................$(J)
Required
Complete the by supplying the missing amounts.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... 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...