Q1. (30 marks)
A skeleton of Heuristic Solution's balance sheet appears as follows (amounts in thousands):
A
B
C
D
1
Balance Sheet
2
Cash
$ 253
Total current liabilities
$ 1,164
3
Receivables
(a)
Long-term debt
(e)
4
Inventories
555
Other long-term liabilities
826
5
Prepaid expenses
(b)
6
Total current assets
(c)
7
Property, plant, and
equipment, net
(d)
Common shares
185
8
Other assets
1,150
Retained earnings
2,846
9
Total assets
$ 6,315
Total liabilities and
shareholders' equity
$(
f)
10
Use the following ratio data to complete Heuristic Solution's balance sheet:
a. Debt ratio is 0.52.
b. Current ratio is 1.20.
c. Acid-test ratio is 0.70
