E6-17. Liquidity Analyses. [Learning Objective B] Use the following excerpt of DragonflyCorporation's asset balances to compute Dragonfly's working capital and current ratio for2023 and 2022. Comment on Dragonfly's liquidity and changes in liquidity from 2022 to2023. Dragonfly's current liabilities are $89,754 million and $82,271 million in 2023 and2022, respectively.Assets (dollars in millions)Current assetsCash and cash equivalentsMarketable securitiesAccounts receivable trade-netInventoriesPrepaid expenses and other receivablesTotal current assetsProperty, plant, and equipment-netOther assetsTotal assets2023$ 13,420762322,120474151,31291,890670453,773$162,708$ 19,3552,39420,87245,6301,26489,51565.7623,770$159.047

Lets understand the basics.Working capital means current assets less current liabilities. It shows…

Assets (dollars in millions) Current assets Cash and cash equivalents Marketable securities Accounts receivable trade-net Inventories Prepaid expenses and other receivables Total current assets Property, plant, and equipment-net Other assets Total assets 2023 $ 13,420 7,623 22,120 47,415 1,312 91,890 67045 3,773 $162,708 4 2022 $ 19,355 2,394 20,872 45,630 1,264 89,515 65,762 3,770 $159,047

Assets (dollars in millions) Current assets Cash and cash equivalents Marketable securities Accounts receivable trade-net Inventories Prepaid expenses and other receivables Total current assets Property, plant, and equipment-net Other assets Total assets 2023 $ 13,420 7,623 22,120 47,415 1,312 91,890 67045 3,773 $162,708 4 2022 $ 19,355 2,394 20,872 45,630 1,264 89,515 65,762 3,770 $159,047

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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LAG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold. Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations. Income taxes Profit $ 25,200 235,800 $ 930,600 558,200 $ 372,400 261,000 $ 111,400 20,600 $ 90,800
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Question 10 of 25 Based on the following data, what is the amount of working capital? Accounts payable Accounts receivable Cash Intangible assets Inventory Long-term investments Long-term liabilities Short-term investments Notes payable (short-term) Property, plant, and equipment Prepaid insurance $404240 O $411680 > O $458800 $79360 141360 86800 124000 171120 198400 248000 99200 69440 1661600 2480
what is net income ?