Problem

(L. OBJ. 4) Using ratios to reconstruct a balance sheet [15—20 min] A skeleton of Heirl...

(L. OBJ. 4) Using ratios to reconstruct a balance sheet [15—20 min]

A skeleton of Heirloom Mills’ balance sheet appears as follows (amounts in thousands):

Requirement

1. Use the following ratio data to complete Heirloom Mills’ balance sheet:

a. Current ratio is 0.70

b. Acid-test ratio is 0.20

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Solutions For Problems in Chapter 14

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