Complete financial statement given certain information (Learning Objective 2) 15–20 min.

The following data (dollar amounts in millions) are adapted from the financial statements of Mountain West, Inc.

Total Current Assets............................................................................................

Accumulated Depreciation ..................................................................................

Total Liabilities....................................................................................................

Debt Ratio ...........................................................................................................

Current Ratio.......................................................................................................

$18,000 2,000 22,000 40%

1.2 Requirement 1. Complete the following condensed balance sheet. Report amounts rounded to the nearest $1 million:

Current Assets ...............................................................................................

Property, Plant, and Equipment .....................................................................

Less: Accumulated Depreciation ....................................................................

Total Assets ...................................................................................................

Current Liabilities...........................................................................................

Long-Term Liabilities .....................................................................................

Stockholders’ Equity ......................................................................................

Total Liabilities and Stockholders’ Equity.......................................................

$ ?

(?)

$ ?

?

$ ?

$ ?

??

$ ?

AppendixLO1