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(Solution) - Refer back to Problem 3 71A Requirements 1 Use

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Refer back to Problem 3-71A.



Requirements
1. Use the Mountain Lodge data in Problem 3-71A to prepare the company?s classified balance sheet at March 31, 2012. Show captions for total assets, total liabilities, and total liabilities and stockholders? equity.
2. Compute Mountain Lodge?s net working capital, current ratio, and debt ratio at March 31, 2012, rounding to two decimal places. At March 31, 2011, net working capital was $11,800, the current ratio was 1.20, and the debt ratio was 0.25. Did Mountain Lodge?s ability to pay both current and total debts improve or deteriorate during fiscal 2012? Evaluate Mountain Lodge?s debt position as strong or weak and give yourreason.

 







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