Title: The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear ...
Post by: remmylp on Feb 5, 2023
The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear below: | Current assets | $ 56,000 | $ 52,000 | | Long-term assets | 110,000 | 120,000 | | Total assets | $166,000 | $172,000 |
Current liabilities |
$ 30,000 |
$ 40,000 | | Noncurrent liabilities | 70,000 | 80,000 | | Total liabilities | 100,000 | 120,000 | | Stockholders' equity | | | | Common stock | 12,000 | 12,000 | | Additional paid-In capital | 14,000 | 14,000 | | Retained earnings | 40,000 | 26,000 | | Total stockholders' equity | 66,000 | 52,000 | | Total liabilities and stockholders' equity | $166,000 | $172,000 |
Required: | a. | Calculate Myers' current ratio for 2021. |
| b. | Calculate Myers' debt ratio for 2021. |
| c. | Calculate Myers' debt-to-equity ratio for 2021. |
Title: The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear ...
Post by: jojoliciouz on Feb 5, 2023
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