Use the following information from ABC Corporation's balance sheet: Assets: • Cash: $8,500 . Marketable securities: $4,300 . Accounts receivable: $6,800 ⚫ Inventory: $16,400 • Property and equipment: $75,000 Accumulated depreciation: ($8,000) Total assets: $103,000 Liabilities and Stockholders' Equity: ⚫ Accounts payable: $5,200 • • . • Notes payable (current): $2,800 Mortgage payable (long-term): $15,000 Bonds payable (long-term): $25,000 Common stock, $40 par: $30,000 ⚫ Paid-in capital in excess of par: $10,000 ⚫ Retained earnings: $15,000 ⚫ Total liabilities and stockholders' equity: $103,000 The average number of common stock shares outstanding during the year was 750 shares. Net earnings for the year were $7,500. The current ratio is: A. 3.5 B. 4.5 C. 4.0 D. 5.0

Use the following information from ABC Corporation's balance sheet: Assets: • Cash: $8,500 . Marketable securities: $4,300 . Accounts receivable: $6,800 ⚫ Inventory: $16,400 • Property and equipment: $75,000 Accumulated depreciation: ($8,000) Total assets: $103,000 Liabilities and Stockholders' Equity: ⚫ Accounts payable: $5,200 • • . • Notes payable (current): $2,800 Mortgage payable (long-term): $15,000 Bonds payable (long-term): $25,000 Common stock, $40 par: $30,000 ⚫ Paid-in capital in excess of par: $10,000 ⚫ Retained earnings: $15,000 ⚫ Total liabilities and stockholders' equity: $103,000 The average number of common stock shares outstanding during the year was 750 shares. Net earnings for the year were $7,500. The current ratio is: A. 3.5 B. 4.5 C. 4.0 D. 5.0

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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