Current Attempt in ProgressThe following data are taken from the financial statements of Blossom Company as of the end oalphabetical order.Accounts payable$31,000Net income$52,000Accounts receivable64,000Other current liabilities18,000Cash32,800Salaries and wages payable6,000Gross profit166,500Total assets275,000Income before income taxes56,000Total liabilities165,000Additional information: The average common shares outstanding during the year was 40,000.Compute the following: (Round current ratlo and eamings per share to 2 decimal places, eg. $2.51.)(a)Current ratio:1(b)Working capital%24(c)Earnings per share24(d)Debts to assets ratio

Name: Current Attempt in ProgressThe following data are taken from the fina
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Description: Current Attempt in ProgressThe following data are taken from the financial statements of Blossom Company as of the end oalphabetical order.Accounts payable$31,000Net income$52,000Accounts receivable64,000Other current liabilities18,000Cash32,800Sala

a) Current Ratio=Current AssetsCurrent Liabilities Current Assets = Account Receivable + Cash…

Business

Accounting

The following data are taken from the financial statements of Blossom Company as of ta alphabetical order. Accounts payable $31,000 Net income $52,000 Accounts receivable 64,000 Other current liabilities 18,000 Cash 32,800 Salaries and wages payable 6,000 Gross profit 166,500 Total assets 275,000

The following data are taken from the financial statements of Blossom Company as of ta alphabetical order. Accounts payable $31,000 Net income $52,000 Accounts receivable 64,000 Other current liabilities 18,000 Cash 32,800 Salaries and wages payable 6,000 Gross profit 166,500 Total assets 275,000

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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