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Determine the current assets and long-term assets

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Reference no: EM132937979

Question - 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 $890,000

Total assets $3,500,000

Current ratio 2.40

Acid-test ratio 1.40

Debt to equity ratio 1.5

Required - Determine the following 2021 balance sheet items:

Current Assets:

Shareholders' equity:

Long-Term assets:

Long-Term liabilities:

Reference no: EM132937979

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