Question: Given the balance sheet information below, please create a balance sheet ensuring you also show total lines for current and long-term assets, current and long-term
Given the balance sheet information below, please create a balance sheet ensuring you also show total lines for current and long-term assets, current and long-term liabilities and Owners equity. Then calculate the current ratio. Please show your work.
| Cash | 28000 | Notes Payable | 11500 |
| Accounts Receivable | 21000 | Accounts Payable | 25000 |
| Inventories | 52000 | Long-term debt | 162000 |
| Fixed Assets | 450000 | Retained Earnings | 65000 |
| Accumulated Depreciation | 150000 | Common Stock | 170000 |
| Intangible Assets | 82000 | ||
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