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Accounting
2017 2016 Current assets Cash and cash equivalents S330 $360 Accounts receivable (net) 570 500 Inventory 600 530 Prepaid expenses 120 160 Total current assets 1.620 1.550 Investments 110 110 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2.680 $2,550 Current liablities $1000 $890 Long-term liabilities 550 520 Stockholders' equity-common 1130 1140 Total liabilities and stockholders' equity $2,680 $2,550

2017 2016 Current assets Cash and cash equivalents S330 $360 Accounts receivable (net) 570 500 Inventory 600 530 Prepaid expenses 120 160 Total current assets 1.620 1.550 Investments 110 110 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2.680 $2,550 Current liablities $1000 $890 Long-term liabilities 550 520 Stockholders' equity-common 1130 1140 Total liabilities and stockholders' equity $2,680 $2,550

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current ratio for two years
2017 2016 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 570 500 Inventory 600 530 Prepaid expenses 120 160 Total current assets 1,620 1,550 Investments 110 110 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,680 $2,550 Current liabilities $1,000 $890 Long-term liabilities 550 520 Stockholders' equity-common 1130 1,140 Total liabilities and stockholders' equity $2,680 $2,550
Transcribed Image Text:2017 2016 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 570 500 Inventory 600 530 Prepaid expenses 120 160 Total current assets 1,620 1,550 Investments 110 110 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,680 $2,550 Current liabilities $1,000 $890 Long-term liabilities 550 520 Stockholders' equity-common 1130 1,140 Total liabilities and stockholders' equity $2,680 $2,550
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