Windsor Company has been operating for several years, and on December 31, 2019, presented the following...

 

 

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Windsor Company has been operating for several years, and on December 31, 2019, presented the following balance sheet. WINDSOR COMPANY BALANCE SHEET DECEMBER 31, 2019 Cash $41,400 Accounts payable $77,500 Receivables 68,900 Mortgage payable 128,000 Inventory 102,500 Common stock ($1 par) 150,300 Plant assets (net) 220,000 Retained earnings 77,000 $432,800 $432,800 The net income for 2017 was $26,600. Assume that total assets are the same in 2016 and 2017. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio (d) Return on assets Windsor Company has been operating for several years, and on December 31, 2019, presented the following balance sheet. WINDSOR COMPANY BALANCE SHEET DECEMBER 31, 2019 Cash $41,400 Accounts payable $77,500 Receivables 68,900 Mortgage payable 128,000 Inventory 102,500 Common stock ($1 par) 150,300 Plant assets (net) 220,000 Retained earnings 77,000 $432,800 $432,800 The net income for 2017 was $26,600. Assume that total assets are the same in 2016 and 2017. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio (d) Return on assets

Answer rating: 100% (QA)

Current Ratio Current Ratio measures the adequacy of current asset to meet short term liabilities It ... View the full answer