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The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable Accounts receivable Average common shares out. Cash Gross profit Net income $27,800 Net sales 72,500 Other current liabilities 23,000 Salaries and wages payable 57,550 Stockholders' equity 170,000 Total assets 46,000 $526,000 22,500 7,500 146,400 305,000

The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable Accounts receivable Average common shares out. Cash Gross profit Net income $27,800 Net sales 72,500 Other current liabilities 23,000 Salaries and wages payable 57,550 Stockholders' equity 170,000 Total assets 46,000 $526,000 22,500 7,500 146,400 305,000

FINANCIAL ACCOUNTING
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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The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable Accounts receivable Average common shares out. Cash Gross profit Net income (a) Current ratio (b) Working capital (c) Earnings per share $ (d) Debt to assets ratio $27,800 72,500 $ Net sales Other current liabilities Salaries and wages payable 23,000 57,550 Stockholders' equity 170,000 46,000 Total assets Compute the following: (Round current ratio to 1 decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) :1 $526,000 % 22,500 7,500 146,400 305,000
Transcribed Image Text:The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable Accounts receivable Average common shares out. Cash Gross profit Net income (a) Current ratio (b) Working capital (c) Earnings per share $ (d) Debt to assets ratio $27,800 72,500 $ Net sales Other current liabilities Salaries and wages payable 23,000 57,550 Stockholders' equity 170,000 46,000 Total assets Compute the following: (Round current ratio to 1 decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) :1 $526,000 % 22,500 7,500 146,400 305,000
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