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#7. The information in Fanny Farm's balance sheets for 2009 and 2010 is summarized in...

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Accounting

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#7. The information in Fanny Farm's balance sheets for 2009 and 2010 is summarized in the following table Balance Sheet Total current assets Total nonctirent assets Total Assets Total current liabilities Deferred portion of term debt Total Liabilities Total Net Worth Total Liabilities and Net Worth 2009 $ 62,000 $435.000 5497,000 $.44,825 150.000 $194,825 302,175 $497.000 2010 $ 42,200 $433.000 $475,200 $ 46,132 136,000 S182,132 293,068 $475,200 Calculate two liquidity measures (current ratio and working capital) and one solvency ratio (debt-to-asset ratio) for Fanny Farm for 2009 and 2010. Assume that there are no personal the answers. Round the answers of the current ratio and the debt-to-asset ratio to 2 decimals current assets and there are no personal current liabilities. You need to show your work to reach A. Calculate the current ratio for Fanny Farm for 2009 and 2010. (2 points) B. Calculate the working capital for Fanny Farm for 2009 and 2010. (2 points) C. Calculate the debt-to-asset ratio for Fanny Farm for 2009 and 2010. (2 points)

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