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Question: tcos a and d the following items are taken from...

Question details

(TCOs A and D) The following items are taken from the financial statements of SRW Company for 2015.

Cash

$375,000

Accounts Receivable

125,000

Prepaid Insurance

100,000

Accounts Payable

88,000

Unearned Service Revenue

15,000

Equipment, Net of Accumulated Depreciation

177,000

Common Stock

125,000

Retained Earnings 12/31/2011

106,000

Long-Term Debt

336,500

Service Revenue

225,000

Cost of Goods Sold

62,500

Rent Expense

30,000

Supplies Expense

8,000

Insurance Expense

18,000



Instructions

(a) Please create a classified balance sheet in good form for the year ended 2015. (25 points)
(b) Please calculate the current ratio. (5 points)      

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