1 PROBLEM 3-4 2 PREPARING A BALANCE SHEET 23 3 Prepare a balance sheet from the following information. What is the 4 net working capital and ebt ratio? Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data 5 section. 6 DATA 7 Cash $50,000 8 Account receivables 42,700 9 Accounts payable 23,000 10 Short-term notes payable 10,500 11 Inventories 40.000 12 Gross fixed assets 13 Other current assets 1,280,000 5,000 14 Long-term debt 200,000 15 Common stock 490,000 16 Other assets + 15,000 17 Accumulated depreciation 312,000 18 Retained earnings ? 19 20 SOLUTION 21 Balance Sheet 22 Cash 23 Accounts receivable 24 Inventories 25 Other current assets 26 Total current assets 27 Gross fixed assets 28 Accumulated depreciation 29 Net fixed assets 30 Other assets 31 Total assets 32 33 Notes payable 34 Accounts payable 35 Total current liabilities 36 Long-term debt 37 Total liabilities 38 Common stock 39 Retained earnings A 40 Total equity 41 Total liabilities and equity 42 43 Net Working Capital 44 Debt Ratio 45