Some of the accounts appearing in the year-end financial statements of Rogand Grocery, Inc., appear as follows. This list includes all of the company’s current assets and current liabilities.

Instructions
a. Prepare a schedule of the company’s current assets and current liabilities. Select the appropriate items from the preceding list.
b. Compute the current ratio and the amount of working capital. Explain how each of these measurements is computed. State, with reasons, whether you consider the company to be in a strong or weak current position.

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Sales. Accumulated depreciation: equipment. Notes payable (due in 90 days) Retained earnings.. Cash....... Capital stock.... Marketable securities. Accounts payable... Mortgage payable (due in 15 years). Salaries payable .... Dividends.... Income taxes payable.. Accounts receivable.. Inventory....... Unearned revenue Unexpired insurance... $1,880,000 370,000 70,000 241,320 69,400 150,000 175,040 128,100 320,000 7,570 25,000 14,600 230,540 179,600 10,000 4,500