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(b) Assume that at the end of 2022, Blossom used $3,100 cash to pay off $3,100 of accounts payable. How would the current ratio and working capital have changed? (Round ratio to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio Working capital (c) :1 I Compute the debt to assets ratio and the times interest earned ratio for Blossom for 2022. (Do not use the information from (b) to determine the solution.) (Round answers to 1 decimal place, e.g. 15.2 or 15.2%.) Debt to assets ratio Times interest earned ratio %

(b) Assume that at the end of 2022, Blossom used $3,100 cash to pay off $3,100 of accounts payable. How would the current ratio and working capital have changed? (Round ratio to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio Working capital (c) :1 I Compute the debt to assets ratio and the times interest earned ratio for Blossom for 2022. (Do not use the information from (b) to determine the solution.) (Round answers to 1 decimal place, e.g. 15.2 or 15.2%.) Debt to assets ratio Times interest earned 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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(b) Assume that at the end of 2022, Blossom used $3,100 cash to pay off $3,100 of accounts payable. How would the current ratio and working capital have changed? (Round ratio to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio Working capital (c) :1 I Compute the debt to assets ratio and the times interest earned ratio for Blossom for 2022. (Do not use the information from (b) to determine the solution.) (Round answers to 1 decimal place, e.g. 15.2 or 15.2%.) Debt to assets ratio Times interest earned ratio %
Transcribed Image Text:(b) Assume that at the end of 2022, Blossom used $3,100 cash to pay off $3,100 of accounts payable. How would the current ratio and working capital have changed? (Round ratio to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio Working capital (c) :1 I Compute the debt to assets ratio and the times interest earned ratio for Blossom for 2022. (Do not use the information from (b) to determine the solution.) (Round answers to 1 decimal place, e.g. 15.2 or 15.2%.) Debt to assets ratio Times interest earned ratio %
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