For Sutton Manufacturing, determine the current ratio and the acid-test ratio. Are these values acceptable? Why or
Question:
Sutton Manufacturing Balance Sheet Data (thousands)
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Transcribed Image Text:
Assets Current assets Liabilities Current liabilities $870 Notes payable S500 Cash Accournts 450 Accounts payable 600 receivable Inventory Prepaid expenses 50 Taxes payable Other expenses Current portion 100 1200 Accrual:s 200 long-te debt Total current assets 2670 Tol crent 430 liabilities Long-term debt Officer debt 2000 Net fixed assets (subordinated) 3630 Laod Plant and 1200 Total liabilbties 2800 equipinent Common stock 670 Notes receivable 200 Casurplus 400 Retained cing 1200 3270 6900 Intangibles Otber assets 20 00 Total net worth Total assets 6900 Total liabilities and net Worth
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Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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