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Balance Sheet Preparation

The December $31,$ Year $5,$ balance sheet accounts of Hitt Company are shown here in alphabetical order:

Accounts Payable $$18,400$ Discount on Bonds Payable $$6,900$

Accounts Receivable $21,000$ Equipment $72,400$

Accumulated Depreciation: Buildings $53,000$ Inventory $37,200$

Accumulated Depreciation: Equipment $35,100$ Land $30,000$

Accumulated Other Comprehensive Income $1,100$ Marketable Securities $($short$-$term$)6,100$

Additional Paid$-$in Capital on Common Stock $24,000$ Patents $($net$)9,700$

Additional Paid$-$in Capital on Preferred Stock $11,500$ Preferred Stock, $$100$ par $21,000$

Allowance for Doubtful Accounts $800$ Retained Earnings $50,960$

Bonds Payable $($due Year $12)77,000$ Revenues $107,000$

Buildings $144,000$ Salaries Expense $39,000$

Cash $4,260$ Salaries Payable $2,000$

Common Stock, $$10$ par $30,000$ Trademarks $3,700$

Current Taxes Payable $10,400$

Required:

Question Content Area

$1.$ Prepare Hitt's December $31,$ Year $5,$ balance sheet.

HITT COMPANY

Balance Sheet

December $31,$ Year $5$

Assets

Current Assets:

$ fill in the blank $61658$a$00$a$04$a$023\_2$

fill in the blank $61658$a$00$a$04$a$023\_4$

$ fill in the blank $61658$a$00$a$04$a$023\_6$

fill in the blank $61658$a$00$a$04$a$023\_8$

fill in the blank $61658$a$00$a$04$a$023\_9$

fill in the blank $61658$a$00$a$04$a$023\_11$

$ fill in the blank $61658$a$00$a$04$a$023\_13$

Property, Plant, and Equipment:

$ fill in the blank $61658$a$00$a$04$a$023\_15$

$ fill in the blank $61658$a$00$a$04$a$023\_17$

fill in the blank $61658$a$00$a$04$a$023\_19$

fill in the blank $61658$a$00$a$04$a$023\_20$

$ fill in the blank $61658$a$00$a$04$a$023\_22$

fill in the blank $61658$a$00$a$04$a$023\_24$

fill in the blank $61658$a$00$a$04$a$023\_25$

fill in the blank $61658$a$00$a$04$a$023\_27$

Intangible Assets:

$ fill in the blank $61658$a$00$a$04$a$023\_29$

fill in the blank $61658$a$00$a$04$a$023\_31$

fill in the blank $61658$a$00$a$04$a$023\_33$

$fill in the blank $61658$a$00$a$04$a$023\_35$

Liabilities

Current Liabilities:

$ fill in the blank $61658$a$00$a$04$a$023\_37$

fill in the blank $61658$a$00$a$04$a$023\_39$

fill in the blank $61658$a$00$a$04$a$023\_41$

$ fill in the blank $61658$a$00$a$04$a$023\_43$

Long$-$Term Liabilities:

$ fill in the blank $61658$a$00$a$04$a$023\_45$

fill in the blank $61658$a$00$a$04$a$023\_47$

fill in the blank $61658$a$00$a$04$a$023\_49$

$ fill in the blank $61658$a$00$a$04$a$023\_51$

Shareholders' Equity

Contributed Capital:

$ fill in the blank $61658$a$00$a$04$a$023\_53$

fill in the blank $61658$a$00$a$04$a$023\_55$

fill in the blank $61658$a$00$a$04$a$023\_57$

fill in the blank $61658$a$00$a$04$a$023\_59$

$ fill in the blank $61658$a$00$a$04$a$023\_61$

fill in the blank $61658$a$00$a$04$a$023\_63$

fill in the blank $61658$a$00$a$04$a$023\_65$

$ fill in the blank $61658$a$00$a$04$a$023\_67$

$ fill in the blank $61658$a$00$a$04$a$023\_69$

Question Content Area

$2.$ Compute the working capital.

$fill in the blank $94$de$28$f$5$a$001$fb$5\_1$

Compute the current ratio. Round to two decimal places.

fill in the blank $94$de$28$f$5$a$001$fb$5\_2$

: $1$

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