Question: Given the following Year 9 selected balance sheet data: Assets Cash on Hand $136,000 Total Current Assets 255,000 Total Fixed Asset Investments 205,000 Total Assets
Given the following Year 9 selected balance sheet data:
| Assets | |||
| Cash on Hand | $136,000 | ||
| Total Current Assets | 255,000 | ||
| Total Fixed Asset Investments | 205,000 | ||
| Total Assets | $460,000 | ||
| Liabilities and Shareholder Equity | |||
| Accounts Payable | $ 66,000 | ||
| Overdraft Loan Payable | 0 | ||
| 1-Year Bank Loan Payable | 10,000 | ||
| Current Portion of Long-Term Loans | 27,000 | ||
| Total Current Liabilities | 103,000 | ||
| Long-Term Bank Loans | 56,000 | ||
| Total Liabilities | 159,000 | ||
| Shareholder Equity: | Year 8 Balance | Year 9 Change | |
| Common Stock (at a par value of $0.50 per share | 10,050 | 0 | 10,050 |
| Additional Capital | 81,500 | 0 | 81,500 |
| Retained Earnings | 162,450 | 47,000 | 209,450 |
| Total Shareholder Equity | 254,000 | +47,000 | 301,000 |
| Total Liabilities and Shareholder Equity | $460,000 |
Based on the above figures and the definition of the debt:equity percentages (or debt%:equity%) presented in the Help section for p. 5 of the Camera and Drone Journal, the company's debt:equity percentages (rounded to the nearest percentage --like 31% or 69%) and its current ratio are
29:71 (or 29%:71%) and 3.26.
35:65 (or 35%:65%) and 2.48.
35:65 (or 35%:65%) and 1.83
31:69 (or 31%:69%) and 2.74
53:47 (or 53%:47%) and 2.48.
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