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E3-18 Calculating ratios; solve for unknowns

E3-18 Calculating ratios; solve for unknowns
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ACCOUNTING

E3-18 Calculating ratios; solve for unknowns

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following: Inventories $840,000, Total assets $2,800,000, current ratio $2.25, acid test ratio 1.2, debt to equity ratio 1.8

Determine the following2011 balance sheet items:
1. current assets
2. shareholder's equity
3 noncurrent assets
4. long-term liabilities

 

FILE: MS WORD

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