The following financial information is from Skyline Development Company. Accounts payable $32,800 Buildings $96,500 Cash $41,200 Accounts receivable $29,750 Sales tax payable $8,400 Retained earnings $64,300 Supplies $53,850 Notes payable (due in 24 months) $38,700 Interest payable Common stock $2,700 $79,500 What is the amount of current assets, assuming the accounts above reflect normal activity?

The following financial information is from Skyline Development Company. Accounts payable $32,800 Buildings $96,500 Cash $41,200 Accounts receivable $29,750 Sales tax payable $8,400 Retained earnings $64,300 Supplies $53,850 Notes payable (due in 24 months) $38,700 Interest payable Common stock $2,700 $79,500 What is the amount of current assets, assuming the accounts above reflect normal activity?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Ratio Analysis Presented below are summary financial data from Porter's annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents Marketable Securities Accounts Receivable (net) Total Current Assets Total Assets Current Liabilities Long-Term Debt- Shareholders' Equity Income Statement Interest Expense Net Income Before Taxes b. Quick ratio $1,850 19,100 9,367 39,088 123,078 38,450 7,279 68,278 Calculate the following ratios: (Round to 2 decimal points) a. Times-interest-earned ratio c. Current ratio 400 14,007