The balance sheet for Shankland Corporation follows: Current assets.................................................. $ 600,000 Long-term assets (net)....................................... 1,900,000 Total assets...................................................

Question:

The for Shankland follows:
Current assets.................................................. $ 600,000
Long-term assets (net)....................................... 1,900,000
Total assets................................................... $2,500,000
Current liabilities............................................. $ 400,000
Long-term liabilities......................................... 1,200,000
Total liabilities................................................1,600,000
Common stock and retained earnings....................... 900,000
Total liabilities and stockholders' equity................ $2,500,000
Required
Compute the following and round ratios to one decimal point:
Working capital----------
Current ratio------------
Debt to assets ratio-------
Debt to equity ratio-------
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...