Chapter 9, Problem 8ATC

a)

To determine

Ascertain Incorporation P’s current ratio.

b)

To determine

State the current asset that is having the largest balance in Incorporation P’s current assets.

c)

To determine

Ascertain the percentage of Incorporation P’s total assets consisted of current assets.

d)

To determine

Identify whether Incorporation P had any “currently maturing’ long-term debt included in the current liabilities on its balance sheet.

e)

To determine

Discuss the way in which the balance sheet of Incorporation P is different, if Incorporation P is a manufacturing company rather than a retailer Company.