Complete the balance sheet of Flying Roos Corp., given all of the following information.
Assets 2008 Liabilities and Stockholders’ Equity 2008
Cash and marketable securities Accounts payable Accounts receivable Notes payable $ 300,000 Inventories Total current assets Total current liabilities Long-term debt $2,000,000 Net plant and equipment Common stock Retained earnings $1,250,000 Total liabilities and stockholders’
Total assets $8,000,000 equity
You are also given the following information:
Debt ratio = 40% Current ratio = 1.5 Sales = $2.25 million