It is important to properly classify and report current and long-term liabilitie

Question

It is important to properly classify and report current and long-term liabilities because they affect liquidity. Refer to the financial statements of the company you've selected to analyze. Research and answer the following about BANK OF AMERICA 1. Is the amount of current liabilities more or less than the long-term liabilities? What does the result mean? Is the total stockholders' equity more or less than total liabilities? What does the result mean? 2. Calculate the debt ratio for your company. Generally speaking what does the debt ratio tell you?

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