The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, 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
Determine the following 2011 balance sheet items:
1. current assets
2. shareholder's equity
3 noncurrent assets
4. long-term liabilities