Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
remmylp remmylp
wrote...
Go to Answer
Posts: 120
Rep: 0 0
A year 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.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 33 times
1 Reply
Replies
Answer verified by a subject expert
jojoliciouzjojoliciouz
wrote...
#1
Posts: 118
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

remmylp Author
wrote...

A year ago
Helped a lot
kevin12323h
wrote...

Yesterday
this is exactly what I needed
vanna2014
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1034 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 687
  
 1229
  
 189
Your Opinion
Do you believe in global warming?
Votes: 370
Previous poll results: Who's your favorite biologist?