Win's Companies, a home improvement store chain, reported the following summanzed figuresE (Click the icon to view the income statement.)E (Click the icon to view the balance sheets.)Win's has 20,000 common shares outstanding during 2018.Read the requirementsRequirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017Begin by selecting the formula to calculate Win's Companies' current ratio. Then enter the amounts and calcu ale the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.)Current ratio(i Balance SheetsIncome StatementWin's CompaniesWin's CompaniesBalance SheetIncome StatementMay 31, 2018 and 2017Years Ended May 31, 2018 and 2017AssetsLiabilities201820172018201720182017Net Sales Revenue2457 200 $39,800Cash$.2.300 $1300 Total Current Liabilities22,000 $12,900Cost of Goods Sold22.50025,50012,20011,300Short-term Invesiments29 00013.000 Long-term LiabilitiesInterest Expense500320Accounts Receivable7,3005.400 Total Liabilities34,20024,2005,8006,500All Other ExpensesMerchandise Inventory7000Stockholders' Equity5.900$428,400 $7,480Net IncomeOther CurrentAssets9,0001800 Common Stock8,0008,00040,40018,20027.400 Retained Earnings23,000 Total EquityTotal Current Assets54,600PrintDone28,00048,40026,200All Other Asséts2482,600 $50,40082,600 $50,400Total AssetsTotal Liabilities and EquityPrintDoneChoose from any drop-down list and then click Check Answer.2 partsClear All

Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Win's Companies' current ratio Then enter the amounts and calcuate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio

Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Win's Companies' current ratio Then enter the amounts and calcuate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) 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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