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Home Q & A Board Other Fields Homework Help Business Accounting
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remmylp remmylp
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A month ago
The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear below:

​​20202021
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 liabilities100,000120,000
Stockholders' equity​​
  Common stock12,00012,000
  Additional paid-In capital14,00014,000
  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.
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Managerial Accounting

Managerial Accounting


Edition: 4th
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jojoliciouzjojoliciouz
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A month ago
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More solutions for this book are available here
a.$52,000 ÷ $40,000 = 1.30
b.$120,000 ÷ $172,000 = 69.8%
c.$120,000 ÷ $52,000 = 2.31
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remmylp Author
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A month ago
Thanks
Mcb
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
decibul
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2 hours ago
Thanks
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