The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2018 fiscal year. Certain amounts have been replaced with question marks to test your understanding of balance sheets. In addition, you are provided with the following information from an analysis of Merry's financial position at the same date:
Current ratio = 1.352259; Acid-test ratio = 0.5769692; Debt to equity ratio = 4.6675078.

Required: Compute the missing amounts (rounded to the nearest $ in millions) in the balance sheet.

Question

The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2018 fiscal year. Certain amounts have been replaced with question marks to test your understanding of balance sheets. In addition, you are provided with the following information from an analysis of Merry's financial position at the same date:
Current ratio = 1.352259; Acid-test ratio = 0.5769692; Debt to equity ratio = 4.6675078.

Required: Compute the missing amounts (rounded to the nearest $ in millions) in the balance sheet.

Quizplus · Accepted Answer

The Answer of The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2018 fiscal year. Certain amounts have been replaced with question marks to test your understanding of balance sheets. In addition, you are provided with the following information from an analysis of Merry's financial position at the same date:
Current ratio = 1.352259; Acid-test ratio = 0.5769692; Debt to equity ratio = 4.6675078.

Required: Compute the missing amounts (rounded to the nearest $ in millions) in the balance sheet.

The Following Balance Sheet Information (In $ Millions) Comes from the Annual