Question

Gray’s Books & Music Inc. reported the following selected information at March 31.
2014
Total current assets........... $262,787
Total assets.............. 439,832
Total current liabilities........... 293,625
Total liabilities............. 376,002
Net cash provided by operating activities.... 62,300

Calculate
(a) The current ratio,
(b) The debt to assets ratio, and
(c) Free cash flow for March 31, 2014.
The company paid dividends of $12,000 and spent $24,787 on capital expenditures.



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  • CreatedApril 07, 2014
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