Please do not give solution in image format thanku EX 16-6 Current position analysis The followingdata were taken from the balance sheet of NiloCompany at the end of two recent fiscal years:Current Year Previous Year Current assets: Cash$375,000 $300,000Marketable securities 500,000 354,000Accounts and notes receivable (net) 625,000426,000Inventories 410,000 222,000Prepaid expenses 190,000 138,000Total current assets $2,100,000 $1,440,000Current liabilities:Accounts and notes payable (short-term) $725,000 $ 600,000Accrued liabilities 275,000 300,000Total current liabilities $1,000,000 $ 900,000Determine for each year (1) the workingcapital, (2) the current ratio, and (3) the quickratio. Round ratios to one decimal place

The ratio analysis helps to analyze the financial statements of the business on the basis of the…

Inventories 410,000 222,000 Prepaid expenses 190,000 138,000 Total current assets $2,100,000 $1,440,000 Current liabilities: Accounts and notes payable (short-term) $ 725,000 $ 600,000 Accrued liabilities 275,000 300,000 Total current liabilities $1,000,000 $900,000 Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick

Inventories 410,000 222,000 Prepaid expenses 190,000 138,000 Total current assets $2,100,000 $1,440,000 Current liabilities: Accounts and notes payable (short-term) $ 725,000 $ 600,000 Accrued liabilities 275,000 300,000 Total current liabilities $1,000,000 $900,000 Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick

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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