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The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...

The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2018, balance sheet revealed the following:

Inventories $ 990,000
Total assets $ 3,500,000
Current ratio 2.10
Acid-test ratio 1.20
Debt to equity ratio 1.8


Required:
Determine the following 2018 balance sheet items:
current assets and long term assets

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Expert Solution

ekkarill92 answered 2 years ago
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