please make sure the answer is correct 100% EX 17-6 Current position analysisThe following data were taken from the balance sheet of Albertini Company at the end oftwo recent fiscal years:OBJ. 3Va. Current yearworking capital,$1,120,000Current YearPrior YearCurrent assets:$ 372,400425,900$ 285,500326,400CashSHOWME HOWMarketable securitiesAccounts and notes receivable (net)531,700408,100Inventories343,200210,600Prepaid expensesTotal current assets89,400$1,320,000146,800EXCELONLINE$1,820,000Current liabilities:$ 404,000296,000$ 700,000Accounts and notes payable (short-term)$ 352,000Accrued liabilities248,000Total current liabilities$ 600,000a. Determine for each year (1) the working capital, (2) the current ratio, and (3) thequick ratio. Round ratios to one decimal place.b.What conclusions can be drawn from these data as to the company's abilityto meet its currently maturing debts?

The ratio analysis is performed to analyze the financial statements of the business using various…

EX 17-6 Current position analysis OBJ. 3 The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Prior Year Current assets: $ 372,400 $ 285,500 326,400 Cash Marketable securities Accounts and notes receivable (net) 425,900 531,700 343,200 408,100 Inventories 210,600 Prepaid expenses Total current assets 146,800 $1.820,000 89,400 $1,320,000 Current liabilities: $ 352,000 Accounts and notes payable (short-term) Accrued liabilities $ 404,000 296,000 S 700,000 248.000 $ 600,000 Total current liabilities a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. b. What conclusions can be drawn from these data as to the company's ability to meet its currently maturing debts?

EX 17-6 Current position analysis OBJ. 3 The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Prior Year Current assets: $ 372,400 $ 285,500 326,400 Cash Marketable securities Accounts and notes receivable (net) 425,900 531,700 343,200 408,100 Inventories 210,600 Prepaid expenses Total current assets 146,800 $1.820,000 89,400 $1,320,000 Current liabilities: $ 352,000 Accounts and notes payable (short-term) Accrued liabilities $ 404,000 296,000 S 700,000 248.000 $ 600,000 Total current liabilities a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. b. What conclusions can be drawn from these data as to the company's ability to meet its currently maturing debts?

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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