The following items appear on the balance sheet of Figgins Company at the end of 2010 and 2011: Required: Between 2010 and 2011, indicate whether Figgins debt-to-equity ratio increased or decreased. Also, indicate whether Figgins current ratio increased or decreased. Interpret these ratios. 2011 2010 Current assets Long-term assets Current liabilities Longterm liabilities Stockholders' equity $6,000 7,000 2,000 $3,000 4,000
The following items appear on the balance sheet of Figgins Company at the end of 2010 and 2011:
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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...
Required:
Between 2010 and 2011, indicate whether Figgins€™ debt-to-equity ratio increased or decreased. Also, indicate whether Figgins€™ current ratio increased or decreased. Interpret these ratios.
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...
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Related Book For 
Cornerstones of Financial and Managerial Accounting
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
ISBN: 978-1111879044