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Westwood Industries has current assets of $750,000 and current liabilities of $320,000. The board of directors declares a cash dividend of $200,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?

Westwood Industries has current assets of $750,000 and current liabilities of $320,000. The board of directors declares a cash dividend of $200,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 7GI
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Westwood Industries has current assets of $750,000 and current liabilities of $320,000. The board of directors declares a cash dividend of $200,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?
Transcribed Image Text:Westwood Industries has current assets of $750,000 and current liabilities of $320,000. The board of directors declares a cash dividend of $200,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?
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