Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the
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Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the current ratio.
Accounts Payable ..............................$7,000
Accounts Receivable .........................10,000
Cash ..................................................... 4,000
Marketable Securities ........................ 2,000
Merchandise Inventory ....................12,000
Notes Payable in Three Years .........13,000
Property, Plant, and Equipment .....40,000
Owner’s Capital ................................ 48,000
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