Bricker Frames has asked you to determine whether the companys ability to pay current liabilities and total
Question:
Bricker Frames has asked you to determine whether the company’s ability to pay current liabilities and total liabilities improved or deteriorated during 2020. To answer this question, compute these ratios for 2020 and 2019, using the following data:
a. Current ratio
b. Acid-test ratio
c. Debt ratio
d. Times-interest-earned ratio
Transcribed Image Text:
123456789gE ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 11 Cash Short-term investments Net receivables 5 Inventory Total assets Total current liabilities 8 Long-term notes payable Income from operations 10 Interest expense A $ $ $ $ $ $ $ $ $ B 2020 61,500 $ 26,000 $ 126,560 $ 236,300 $ 564,000 $ 278,000 $ 20,920 $ 166,110 $ 49,000 $ C 2019 47,000 0 118,240 271,320 492,000 204,000 46,920 159,580 39,500
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a Current ratio Current Assets Current Liabilities For 2020Current Assets Cash Shortterm investments ...View the full answer
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