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Assume that at the end of 2025, Blossom used $3,720 cash to pay off $3,720 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 2.75. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Current ratio Working capital $ eTextbook and Media :1 Compute the debt to assets ratio and the times interest earned for Blossom for 2025. (Round debt to assets ratio to 0 decimal places, e.g. 25% and times interest earned to 1 decimal place, e.g. 27.5.) Debt to assets ratio %

Assume that at the end of 2025, Blossom used $3,720 cash to pay off $3,720 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 2.75. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Current ratio Working capital $ eTextbook and Media :1 Compute the debt to assets ratio and the times interest earned for Blossom for 2025. (Round debt to assets ratio to 0 decimal places, e.g. 25% and times interest earned to 1 decimal place, e.g. 27.5.) Debt to assets ratio %

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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Assume that at the end of 2025, Blossom used $3,720 cash to pay off $3,720 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 2.75. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Current ratio Working capital $ eTextbook and Media :1 Compute the debt to assets ratio and the times interest earned for Blossom for 2025. (Round debt to assets ratio to 0 decimal places, e.g. 25% and times interest earned to 1 decimal place, e.g. 27.5.) Debt to assets ratio %
Transcribed Image Text:Assume that at the end of 2025, Blossom used $3,720 cash to pay off $3,720 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 2.75. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Current ratio Working capital $ eTextbook and Media :1 Compute the debt to assets ratio and the times interest earned for Blossom for 2025. (Round debt to assets ratio to 0 decimal places, e.g. 25% and times interest earned to 1 decimal place, e.g. 27.5.) Debt to assets ratio %
Blossom Company provides you with the following balance sheet information as of December 31, 2025. Current assets Long-term assets Total assets $14,304 Current liabilities 32,860 Long-term liabilities $47,164 Stockholders' equity Total liabilities and stockholders' equity Current ratio $14,900 Working capital 17,360 In addition, Blossom reported net income for 2025 of $19,840, income tax expense of $3,968, and interest expense of $1.612. 14,904 $47,164 Compute the current ratio and working capital for Blossom for 2025. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45))
Transcribed Image Text:Blossom Company provides you with the following balance sheet information as of December 31, 2025. Current assets Long-term assets Total assets $14,304 Current liabilities 32,860 Long-term liabilities $47,164 Stockholders' equity Total liabilities and stockholders' equity Current ratio $14,900 Working capital 17,360 In addition, Blossom reported net income for 2025 of $19,840, income tax expense of $3,968, and interest expense of $1.612. 14,904 $47,164 Compute the current ratio and working capital for Blossom for 2025. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45))
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