The following data (dollar amounts in millions) are taken from the financial statements of Number 1 Industries,

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The following data (dollar amounts in millions) are taken from the financial statements of Number 1 Industries, Inc.:
Total liabilities ................................. $12,500
Total current assets .......................... $13,500
Accumulated depreciation ................ $ 1,600
Debt ratio................................................ 50%
Current ratio ........................................... 1.50

Requirement
1. Complete the following condensed balance sheet. Report amounts to the nearest milliondollars.
The following data (dollar amounts in millions) are taken from the
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial accounting

ISBN: 978-0132751124

9th edition

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom

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