"Problem 13-20B Supply missing balance sheet numbersRustin Craft discovered a piece of wet and partially...
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Accounting
"Problem 13-20B Supply missing balance sheet numbersRustin Craft discovered a piece of wet and partially burned balance sheet after his office was destroyed by fire. He could recall a current ratio of 1.75 and a debt to assets ratio of 45 percent.AssetsCurrent assets Cash Accounts receivable Prepaid expenses Long-term assets Building Less: Accumulated depreciation Total assets Inventory Total current assets Total long-term assets $ 150,000 (A)252,000 54,000 (B)Liabilities and Stockholders EquityLiabilities Current liabilities Long-term liabilities Stockholders equity Common stock Retained earnings Total liabilities and stockholders equity Accounts payable Notes payable (C)(180,000)1,080,000$ (D)Income tax payable Total current liabilities Bonds payable Mortgage payable Total liabilities LO 13-5$ 252,000 (E)108,000 480,000 RequiredComplete the balance sheet by supplying the missing amounts.
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