Part 3 2021 2020 Compute the following key ratios for 2021 a) Current Ratio $...
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Part 3 2021 2020 Compute the following key ratios for 2021 a) Current Ratio $ 103,500 $ 46,800 44,550 7,200 70,400 32,000 71,200 3,600 b) Acid Test Assets Current Assets: Cash Accounts receivable Inventory Prepaid rent Long-Term Assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total Assets c) Total Debt to Assets 54,900 117,450 106,200 (30,600) $ 450,000 $ 141,600 102,000 (20,800) 400,000 a) Current Ratio b) Acid Test $ 30,150 $ 7,200 12,150 46,800 3,600 10,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-Term Liabilities: Notes payable Stockholders' Equity Common stock Retained earnings Total Liabilities and Stockholders' Equity c) Total Debt to Assets 138,150 127,600 144,000 144,000 118,350 68,000 $ 450,000 $ 400,000
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