Using the financial statements below, calculate the current ratio listed. 2015 2014 Cash $33,000 $ 25,000 Accounts

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Using the financial statements below, calculate the current ratio listed.

2015 2014

Cash $33,000 $ 25,000
Accounts receivable 180,000 140,000
Inventory 340,000 310,000
Prepaid insurance 4,000 5,000
Equipment (net) 290,000 300,000

Total Assets $ 847,000 $ 780,000

Accounts payable 170,200 220,000
Interest payable 2,800 2,800
Income taxes payable 9,440 8,000
Bonds payable 280,000 280,000
Common Stock 100,000 100,000

Retained earnings 284,560 169,200

Total Liab. & S.Equity $ 847,000 $ 780,000

Related Book For answer-question

Fundamentals of Corporate Finance

ISBN: 978-1259024962

6th Canadian edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim

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Posted Date: Aug 10, 2018 06:29 AM

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Using the financial statements below, calculate the current ratio listed. 2015 2014 Cash $33,000 $ 25,000 Accounts

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