Current assets: Cash Current Year Previous Year $510,700 $448,600 Marketable securities 672,700 529,400 Accounts and notes...

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Current assets: Cash Current Year Previous Year $510,700 $448,600 Marketable securities 672,700 529,400 Accounts and notes receivable (net) 828,200 637,000 Inventories 823,900 503,100 Prepaid expenses 407,500 312,900 Total current assets $3,243,000 $2,431,000 Current liabilities: Accounts and notes payable (short-term) $681,500 $566,700 Accrued liabilities Total current liabilities 258,500 $940,000 283,300 $850,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio Current assets: Cash Current Year Previous Year $510,700 $448,600 Marketable securities 672,700 529,400 Accounts and notes receivable (net) 828,200 637,000 Inventories 823,900 503,100 Prepaid expenses 407,500 312,900 Total current assets $3,243,000 $2,431,000 Current liabilities: Accounts and notes payable (short-term) $681,500 $566,700 Accrued liabilities Total current liabilities 258,500 $940,000 283,300 $850,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio

Answer rating: 100% (QA)

To calculate the requested financial ratios and working capital well use the provide... View the full answer