Question: A partial balance sheet for Captain D's Sportswear is shown below. (dollars in thousands) IS Assets: Liabilities: Cash $ 60 Accounts payable $ 240 Accounts
A partial balance sheet for Captain D's Sportswear is shown below. (dollars in thousands) IS Assets: Liabilities: Cash $ 60 Accounts payable $ 240 Accounts receivable (net) 170 Other liabilities 80 Investments 50 Total current liabilities 320 Inventory 200 Long-term liabilities -110 Prepaid rent 25 Total liabilities 430 Total current assets 505 Stockholders' equity: Property & Equipment, (net) 255 Common stock 150 Retained earnings 180 Total stockholders' equity 330 Total assets $ 760 Total liabilities and equity $ 760 The acid-test ratio is: (Round your answer to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
