Gateway Corporation has the following selected balance sheet information. 

 

Determine the working capital for 2020 and determine the current ratio for 2020 and 2019.

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Account Cash Accounts Receivable Inventory Supplies Other Current Assets Notes Payable Accounts Payable $ SSSSSSS 2020 25,840 $ 13,500 $ 8,490 $ 1,150 $ 2,500 $ 6,250 $ 18,400 $ 2019 19,850 8,540 10,580 2,500 3,600 6,900 21,430 Account Cash Accounts Receivable Inventory Supplies Other Current Assets Notes Payable Accounts Payable $ SSSSSSS 2020 25,840 $ 13,500 $ 8,490 $ 1,150 $ 2,500 $ 6,250 $ 18,400 $ 2019 19,850 8,540 10,580 2,500 3,600 6,900 21,430

Answer rating: 100% (QA)

Answer 1 Working Capital is a financial measure that tells whether a company has liquidity to pay it... View the full answer