On a separate sheet of paper, or using a spreadsheet, create a balance sheet for Tropical Aquaculture, a farm for shrimp, using the information below. Calculate and analyze the quick, debt, and debt-to-equity ratios.
- Cash $ 45,000
- Accounts receivable $ 12,000
- Shrimp feed $ 8,400
- Accounts payable $ 9,700
- Equipment $ 75,000
- Bank loan $ 20,000
- Property and ponds $124,000