Question

College Spirit sells sportswear with logos of major universities. At the end of 2011, the following balance sheet account balances were available.
Required:
1. Prepare a classified balance sheet for College Spirit at December 31, 2011.
2. Compute College Spirit’s working capital and current ratio at December 31, 2011.
3. Comment on College Spirit’s liquidity as of December 31, 2011.


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  • CreatedSeptember 22, 2015
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