Use the following information from ABC Company's balance sheet: Cash = $8,500 Marketable securities = $2,700 Accounts receivable = $7,300 . Inventory $12,600 • Property and equipment = $55,000 Accumulated depreciation = ($4,500) Total assets = $81,600 Liabilities and Stockholders' Equity: • Accounts payable = $4,200 Notes payable (current) = $2,000 Mortgage payable (long-term) = $3,500 Bonds payable (long-term) = $22,400 Common stock ($50 par) = $19,000 Paid-in capital in excess of par = $9,500 Retained earnings = $21,000 Total liabilities and stockholders' equity = $81,600 What is the current ratio?

Use the following information from ABC Company's balance sheet: Cash = $8,500 Marketable securities = $2,700 Accounts receivable = $7,300 . Inventory $12,600 • Property and equipment = $55,000 Accumulated depreciation = ($4,500) Total assets = $81,600 Liabilities and Stockholders' Equity: • Accounts payable = $4,200 Notes payable (current) = $2,000 Mortgage payable (long-term) = $3,500 Bonds payable (long-term) = $22,400 Common stock ($50 par) = $19,000 Paid-in capital in excess of par = $9,500 Retained earnings = $21,000 Total liabilities and stockholders' equity = $81,600 What is the current ratio?

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 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...

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