Answered: Pinewood Industries has the following…

Pinewood Industries has the following financial ratios: Current ratio = 2.8 Acid-test ratio = 1.3 Working capital = $450,000 How much does the firm have in current liabilities?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

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Question

Can you please solve this accounting problem?

Pinewood Industries has the following financial ratios:
Current ratio = 2.8
Acid-test ratio = 1.3
Working capital = $450,000
How much does the firm have in current liabilities?

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