Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance $ 35,000 ६ 60,000 $ 55,000 $ 150,000 $ 450,000 $ 60,000 $ 130,000 $ 120,000 $ 320,000 ६ 450,000 Beginning Balance $ 30,000 $ 50,000 $ 60,000 $ 140,000 $ 460,000 $ 40,000 $ 120,000 ६ 120,000 $ 340,000 $ 460,00০ Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common atock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700,000 $ 400,000 $ 300,000 $ 140,000 $ 8,000 $ 92,400 7. What is the amount of working capital and the current ratio at the end of this year? (Round "Current ratio" to 2 decimal places.) Working capital Current ratio

Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance $ 35,000 ६ 60,000 $ 55,000 $ 150,000 $ 450,000 $ 60,000 $ 130,000 $ 120,000 $ 320,000 ६ 450,000 Beginning Balance $ 30,000 $ 50,000 $ 60,000 $ 140,000 $ 460,000 $ 40,000 $ 120,000 ६ 120,000 $ 340,000 $ 460,00০ Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common atock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700,000 $ 400,000 $ 300,000 $ 140,000 $ 8,000 $ 92,400 7. What is the amount of working capital and the current ratio at the end of this year? (Round "Current ratio" to 2 decimal places.) Working capital Current ratio

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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