ACCT 102 - Please Do Both Subparts A recent balance sheet of Sweet Tooth, Inc., included the following items, among others. (Dollar amounts are stated in thousands.)CashMarketable securities (short-term)Accounts receivableInventoriesPrepaid expensesRetained earningsNotes payable to banks (due within one year)Accounts payableDividends payableAccrued liabilities (short-term)Income taxes payable50,23055,92623,55332,2105,736121,47720,0005,9121,56021,5326,438The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1percent.Required:a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities.b. Compute Sweet Tooth's (1) quick ratio, (2) current ratio, (3) working capital, and (4) debt ratio. (Round ratios to 1 decimal place.)Amount(thousands)a-1.Quick assetsa-2Current assetsa-3.Current liabilitiesb-1.Quick ratioto 1b-2.Current ratioto 1b-3,Working capitalb-4.Debt ratio%24

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A recent balance sheet of Sweet Tooth, Inc., included the following items, among others. (Dollar amounts are stated in thousands.) Cash $ 50, 230 Marketable securities (short-term) 55,926 23,553 32,210 5,736 121,477 20,000 5,912 1,560 21,532 Accounts receivable Inventories Prepaid expenses Retained earnings Notes payable to banks (due within one year) Accounts payable Dividends payable Accrued liabilities (short-term) Income taxes payable 6,438 The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent. Required: a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities. trotio (2) worling canital and (4) doht ratio (Round r mal piace l

A recent balance sheet of Sweet Tooth, Inc., included the following items, among others. (Dollar amounts are stated in thousands.) Cash $ 50, 230 Marketable securities (short-term) 55,926 23,553 32,210 5,736 121,477 20,000 5,912 1,560 21,532 Accounts receivable Inventories Prepaid expenses Retained earnings Notes payable to banks (due within one year) Accounts payable Dividends payable Accrued liabilities (short-term) Income taxes payable 6,438 The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent. Required: a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities. trotio (2) worling canital and (4) doht ratio (Round r mal piace l

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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