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Author Question: The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear ... (Read 27 times)

fungirl

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on: Feb 5, 2023
The 2020 and 2021 partial balance sheets for Myers Manufacturing Company appear below:

​​20202021
Current assets$  56,000$  52,000
Long-term assets 110,000 120,000
Total assets$166,000$172,000

Current liabilities
$  30,000
$  40,000
Noncurrent liabilities   70,000   80,000
Total liabilities100,000120,000
Stockholders' equity​​
  Common stock12,00012,000
  Additional paid-In capital14,00014,000
  Retained earnings   40,000   26,000
Total stockholders' equity   66,000   52,000
Total liabilities and stockholders' equity$166,000$172,000

Required:

a.Calculate Myers' current ratio for 2021.
b.Calculate Myers' debt ratio for 2021.
c.Calculate Myers' debt-to-equity ratio for 2021.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by fungirl on Feb 5, 2023

sin

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Reply #1 on: Feb 5, 2023
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fungirl

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Reply 2 on: Feb 5, 2023
Wow, this really help

yeungji

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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