Total Current Assets $ 1,216,000 Accumulated Depreciation 2,000,000 Total Liabilities 1,540,000 Preferred Stock Debt Ratio 55% Current Ratio 1.60

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Using ratios to reconstruct a balance sheet

The following data are adapted from the financial statements of Bridget’s Shops, Inc.:

Prepare Bridget’s condensed balance sheet as of December 31, 2018.

Total Current Assets
$ 1,216,000
Accumulated Depreciation
2,000,000
Total Liabilities
1,540,000
Preferred Stock
Debt Ratio
55%
Current Ratio
1.60
Transcribed Image Text:Total Current Assets $ 1,216,000 Accumulated Depreciation 2,000,000 Total Liabilities 1,540,000 Preferred Stock Debt Ratio 55% Current Ratio 1.60
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