Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's working capital for the year. Select one: a. $663,850 O b. $26,550 O C. 92% d. 1.08 O O

Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's working capital for the year. Select one: a. $663,850 O b. $26,550 O C. 92% d. 1.08 O O

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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Question

Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's
working capital for the year.
Select one:
a. $663,850
b. $26,550
O C. 92%
d. 1.08

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