Question: Exercise 3-18 (Algo) Calculating ratios; solve for unknowns [LO3-8] The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable

Exercise 3-18 (Algo) Calculating ratios; solve for unknowns [LO3-8] The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets. Current ratio Acid-test ratio: Debt to equity ratio. $ 1,010,000 $ 3,600,000 2.20 1.20 1.5 Required: Determine the following balance sheet items: 1. Current assets 2 Shareholders' equity 3. Long-term assets 4. Long-term liabilities

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