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The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio = 1.352447; Acid-test ratio = 0.5771567; Debt to equity ratio = 0.7026720. Required: Compute the missing amounts in the balance sheet. Note: Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar

The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio = 1.352447; Acid-test ratio = 0.5771567; Debt to equity ratio = 0.7026720. Required: Compute the missing amounts in the balance sheet. Note: Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar

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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6 02:11:14 The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio=1.352447; Acid-test ratio = 0.5771567; Debt to equity ratio = 0.7026720. Required: Compute the missing amounts in the balance sheet. Note: Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar. MERRY INTERNATIONAL INCORPORATED Balance Sheet At December 31, 2024 ($ in millions) Assets Current assets Cash and cash equivalents Accounts and notes receivable Inventory Other Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net $ 1,532 400 1,444 $ GA 580 600
Transcribed Image Text:6 02:11:14 The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio=1.352447; Acid-test ratio = 0.5771567; Debt to equity ratio = 0.7026720. Required: Compute the missing amounts in the balance sheet. Note: Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar. MERRY INTERNATIONAL INCORPORATED Balance Sheet At December 31, 2024 ($ in millions) Assets Current assets Cash and cash equivalents Accounts and notes receivable Inventory Other Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net $ 1,532 400 1,444 $ GA 580 600
Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net Other assets Total long-term assets Total assets Current liabilities Accounts payable Salaries payable Other payables Total current liabilities Long-term debt Other long-term liabilities Total long-term liabilities Total liabilities Shareholders' equity Common stock Additional paid-in capital Retained earnings $ Liabilities and Shareholders' Equity Total shareholders' equity Total liabilities and shareholders' equity 1,532 400 1,444 1,362 866 500 3,824 3,536 $ GA GA $ 709 782 1,550 3,041 7,860 13,383
Transcribed Image Text:Total current assets Property and equipment, net Intangible assets, net Investments Notes and other receivables, net Other assets Total long-term assets Total assets Current liabilities Accounts payable Salaries payable Other payables Total current liabilities Long-term debt Other long-term liabilities Total long-term liabilities Total liabilities Shareholders' equity Common stock Additional paid-in capital Retained earnings $ Liabilities and Shareholders' Equity Total shareholders' equity Total liabilities and shareholders' equity 1,532 400 1,444 1,362 866 500 3,824 3,536 $ GA GA $ 709 782 1,550 3,041 7,860 13,383
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