Question: Constructing Balance Sheets and Applying the Current and Quick Ratios The following balance sheet data are reported for Brownlee Catering at September 30, 2015. Accounts

Constructing Balance Sheets and Applying the Current and Quick Ratios

The following balance sheet data are reported for Brownlee Catering at September 30, 2015.

Accounts Receivable $76,500 Accounts Payable $86,000
Notes Payable 76,000 Cash 45,000
Equipment 153,000 Common Stock 123,750
Supplies Inventory 40,500 Retained Earnings ?

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