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The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio $555,900 643,700 263,400 1,219,700 628,300 3. Quick ratio $3,311,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $446,600 323,400 $770,000 $455,600 512,600 170,800 858,300 548,700 $2,546,000 $ $469,000 201,000 $670,000

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio $555,900 643,700 263,400 1,219,700 628,300 3. Quick ratio $3,311,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $446,600 323,400 $770,000 $455,600 512,600 170,800 858,300 548,700 $2,546,000 $ $469,000 201,000 $670,000

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 were taken from the balance sheet of Nillo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio. $555,900 643,700 263,400 1,219,700 628,300 3. Quick ratio $3,311,000 Current liabilities: Accounts and notes payable (short-term) $469,000 Accrued liabilities 201,000 Total current liabilities. $670,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $446,600 323,400 $770,000 $455,600 512,600 170,800 858,300 548,700 $2,546,000 $
Transcribed Image Text:The following data were taken from the balance sheet of Nillo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio. $555,900 643,700 263,400 1,219,700 628,300 3. Quick ratio $3,311,000 Current liabilities: Accounts and notes payable (short-term) $469,000 Accrued liabilities 201,000 Total current liabilities. $670,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $446,600 323,400 $770,000 $455,600 512,600 170,800 858,300 548,700 $2,546,000 $
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