How to I determine the current assets when all I have is total assets and ratios
The current asset section of the balance sheet consists of cash, marketable securities, accounts receivables, and inventories. The December 31 balance sheet revealed the following:
Inventories $ 840,000
Total Assets $2,800,000
Current Ratio 2.25
Acid-Test Ratio 1.2
Debt to Equity Ratio 1.8
I need to determine the following balance sheet items:
1. Current Assets
2. Shareholders’ Equity
3. Noncurrent Assets
4. Long-Term liabilities
I do not know where to begin. Do I begin by trying to determine the current assets? Can help anyone point in the right direction to start?