(Solution) - Mills Geothermal Ltd installs environmental heating cooling systems The company s 2014 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Mills Geothermal Ltd. installs environmental heating/cooling systems. The company's 2014 revenues totalled $360 million, and at December 31, 2014, the company had $65 million in current assets. The December 31, 2014, balance sheet reported the liabilities and shareholders' equity as follows:

Requirements
1. Describe each of Mills Geothermal Ltd.'s liabilities, and state how the liability arose.
2. What were the company's total assets at December 31, 2014? Was the company's debt ratio at the end of 2014 high, low, or in a middle range?