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The balance sheet for Fanning Corporation follows: $ 242,000 758,000 Current assets Long-term assets (net) Total assets $1,000,000 Current liabilities 144,000 453,000 597,000 403,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,000,000 Required Compute the following. (Round ratios to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio %

The balance sheet for Fanning Corporation follows: $ 242,000 758,000 Current assets Long-term assets (net) Total assets $1,000,000 Current liabilities 144,000 453,000 597,000 403,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,000,000 Required Compute the following. (Round ratios to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 17BEA: Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of...
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The balance sheet for Fanning Corporation follows: 242,000 758,000 Current assets Long-term assets (net) Total assets $1,000,000 Current liabilities 144,000 453,000 Long-term liabilities Total liabilities 597,000 403,000 Common stock and retained earnings Total liabilities and stockholders' equity $1,000,000 Required Compute the following. (Round ratios to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio % Debt-to-equity ratio
Transcribed Image Text:The balance sheet for Fanning Corporation follows: 242,000 758,000 Current assets Long-term assets (net) Total assets $1,000,000 Current liabilities 144,000 453,000 Long-term liabilities Total liabilities 597,000 403,000 Common stock and retained earnings Total liabilities and stockholders' equity $1,000,000 Required Compute the following. (Round ratios to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio % Debt-to-equity ratio
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