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(Solution) - Refer back to Problem Requirements 1 Prepare the

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Refer back to Problem.

1. Prepare the company?s classified balance sheet in report form at March 31, 2010. Show captions for total assets, total liabilities, and total liabilities and stockholders equity.
2. Compute Sunny Stream?s current ratio and debt ratio at March 31, 2010 rounding to two decimal places. At March 31, 2009, the current ratio was 1.40 and the debt ratio was 0.25. Did Sunny Stream?s ability to pay both current and total liabilities improve or deteriorate during 2010? Evaluate Sunny Stream?s debt position as strong or weak and give yourreason.


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