=+PR 17-2A Vertical analysis for income statement obj. 1

✔ 1. Net income, 2010, 16.0%

Data pertaining to the current position of Boole Company are as follows:

Cash $240,000 Temporary investments 120,000 Accounts and notes receivable (net) 360,000 Inventories 380,000 Prepaid expenses 20,000 Accounts payable 140,000 Notes payable (short-term) 200,000 Accrued expenses 60,000 Instructions 1. Compute

(a) the working capital,

(b) the current ratio, and

(c) the quick ratio. Round to one decimal place.