Mr. Hamad, the finance manager of XYZ Company, has gathered the following condensed balance sheet items along with related ratios.
Current assets O.R 5,000,000; total assets 20,000,000; current ratio 4:1; and debt ratio 40%.
Instructions: Prepare in a proper format a condensed balance sheet for XYZ Company (include the following totals: current assets, non-asset, total assets, current liabilities, non-liabilities, total liabilities, owners’ equity, and total liabilities and owners’ equity).