Irvin Furniture Company has requested that you determine whether the company's ability to pay its current liabilities
Question:
a. Net working capital
b. Current ratio
c. Quick (acid-test) ratio
d. Debt ratio
e. Times-interest-earned ratio
Summarize the results of your analysis in a short paragraph
Transcribed Image Text:
2016 2015 Cash S 22,000 48,000 26,000 19,000 Net receivables....123,000 132,000 Prepaid expenses... Total assets. 14,000 6,000 e... 217,000 Income from o 250,000 130,000 Interest expense.... 38,000 46,000
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a Networking capital Current assets Current liabilities 2016 420000 217000 203000 2015 474000 113000 ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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