The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable...
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Accounting
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 950,000 $3,300,000 2.30 1.30 1.5 Required: Determine the following 2021 balance sheet items: 11. Current assets 12. Shareholders' equity 13. Long-term assets 14. Long-term abilities
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