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The balance sheet for Fanning Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity Required Compute the following. Note: Round ratios to 1 decimal place. $ 250,000 763,000 $ 1,013,000 $ 144,000 454,000 598,000 415,000 $ 1,013,000 Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio $ 106,000 %

The balance sheet for Fanning Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity Required Compute the following. Note: Round ratios to 1 decimal place. $ 250,000 763,000 $ 1,013,000 $ 144,000 454,000 598,000 415,000 $ 1,013,000 Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio $ 106,000 %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The balance sheet for Fanning Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity Required Compute the following. Note: Round ratios to 1 decimal place. $ 250,000 763,000 $ 1,013,000 $ 144,000 454,000 598,000 415,000 $ 1,013,000 Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio $ 106,000 %
Transcribed Image Text:The balance sheet for Fanning Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity Required Compute the following. Note: Round ratios to 1 decimal place. $ 250,000 763,000 $ 1,013,000 $ 144,000 454,000 598,000 415,000 $ 1,013,000 Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio $ 106,000 %
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