Question: I have asked for help 3 times on this question and so far nobody has been able to proivde me with the correct answers. Can

I have asked for help 3 times on this question and so far nobody has been able to proivde me with the correct answers. Can someone help me? THe last question should have 3 different answers:

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

Cash

$440,000

Marketable securities

175,000

Accounts and notes receivable (net)

335,000

Inventories

700,000

Prepaid expenses

44,000

Accounts payable

180,000

Notes payable (short-term)

230,000

Accrued expenses

290,000

Required:

1.

Compute (A) the working capital

The excess of the current assets of a business over its current liabilities.

, (B) the current ratio

A financial ratio that is computed by dividing current assets by current liabilities.

, and (C) the quick ratio

A financial ratio that measures the ability to pay current liabilities with quick assets (cash, marketable securities, accounts receivable).

. Round ratios to one decimal place.

2.

Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place.

A.

Sold marketable securities at no gain or loss, 80,000.

B.

Paid accounts payable, 120,000.

C.

Purchased goods on account, 130,000.

D.

Paid notes payable, 105,000.

E.

Declared a cash dividend, 140,000.

F.

Declared a common stock dividend on common stock, 50,000.

G.

Borrowed cash from bank on a long-term note, 200,000.

H.

Received cash on account, 140,000.

I.

Issued additional shares of stock for cash, 595,000.

J.

Paid cash for prepaid expenses, 12,000.

PLEASE HELP WITH THIS PART

2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place.

Working

Current

Quick

Transaction

Capital

Ratio

Ratio

A.

_____

____

____

B.

____

_____

____

C.

____

____

_____

D.

_____

____

____

E.

____

____

_____

F.

_____

_____

_____

G.

_____

_____

____

H.

_____

_____

_____

I.

_____

______

_______

J.

____

_____

______

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