The Core Company had the following assets and liabilities as of December 31: Assets Cash $58,000 Accounts receivable 25,000 Inventory 20,000 Equipment 50,000 Liabilities Current portion of long-term debt $20,000 Accounts payable 12,000 Long-term debt 25,000 Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place. Current Ratio Working Capital Quick Ratio

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Core Company had the following assets and liabilities as of December 31:
Assets
Cash
$58,000
Accounts receivable
25,000
Inventory
20,000
Equipment
50,000
Liabilities
Current portion of long-term debt
$20,000
Accounts payable
12,000
Long-term debt
25,000
Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place.
Current Ratio
Working Capital
$
Quick Ratio
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Transcribed Image Text:The Core Company had the following assets and liabilities as of December 31: Assets Cash $58,000 Accounts receivable 25,000 Inventory 20,000 Equipment 50,000 Liabilities Current portion of long-term debt $20,000 Accounts payable 12,000 Long-term debt 25,000 Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place. Current Ratio Working Capital $ Quick Ratio Previous Next
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