Use the Balance Sheet of Chicago,Inc $\text {Chicago, Inc.}$ $\text {Comparative Balance Sheet}$

question 39

Essay

Use the balance sheet of Chicago,Inc.to calculate the current ratio for 2019 and 2018
Assets
$\text {Chicago, Inc.}$
$\text {Comparative Balance Sheet}$
$\text {December 31,2019 and 2018}$
$$\begin{array} { l l l } &2019&2018\\\text { Total Cument Assets } & \$ 200,000 & \$ 100,000 \\\text { Property, Plant, and Equipment, Net } & 550,000 & 500,000 \\\text { Other Assets } & 50,000 & 50,000 \\\text { Total Assets } & \$ 800,000 & \$ 650,000\end{array}$$ Liabilities
$\begin{array}{lll}\text { Total Current Liabilities } & \$ 150,000 & \$ 100,000 \\\text { Long-term Debt } & \underline{350,000} & \underline{250,000} \\\text { Total Liabilities } & \underline{500,000} & \underline{350,000} \\\end{array}$
Stockholders' Equity
$\begin{array}{lll}\text { Total Stockholders' Equity } & \underline{300,000} & \underline{300,000} \\\text { Total Liabilities and Stockholders' Equity } & \$ 600,000 & \$ 650,000\end{array}$

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Definitions:

Pheromones

Chemical substances produced and released into the environment by an animal, affecting the behavior or physiology of others of its species.

Biologically Magnified

Refers to the process by which toxic substances become more concentrated in organisms at higher levels of the food chain.

Pest

An organism that is considered troublesome or harmful to humans, their endeavors, such as agriculture, or to natural ecosystems.

Subjective

Pertaining to or influenced by personal feelings, tastes, or opinions, as opposed to objective, which is fact-based and unbiased.