125 ►A company's year-end balance sheet is shown below:CashAccounts receivableAssetsInventoryProperty, plant, and equipment (net)$ 300,000350,000600,000Liabilities andshareholder equity.Current liabilities $ 700,000Long-term liabilities600,000Common stock800,0001,150,000$3,250,0002,000,000 Retained earnings$3,250,000What is the current ratio as of December 31?

Current Ratio = Current Assets / Current Liabilities Current Assets = Cash + Account Receivable +…

A company's year-end balance sheet is shown below: Cash Assets Accounts receivable Inventory Property, plant, and equipment (net) Liabilities and shareholder equity. $ 300,000 Current liabilities $ 700,000 350,000 Long-term liabilities 600,000 600,000 Common stock 800,000 2,000,000 Retained earnings 1,150,000 $3,250,000 $3,250,000

A company's year-end balance sheet is shown below: Cash Assets Accounts receivable Inventory Property, plant, and equipment (net) Liabilities and shareholder equity. $ 300,000 Current liabilities $ 700,000 350,000 Long-term liabilities 600,000 600,000 Common stock 800,000 2,000,000 Retained earnings 1,150,000 $3,250,000 $3,250,000

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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