Question: Please show all calculations. Make sure to highlight your final answers, and write clearly 1. Purple Corporation Balance Sheets as of December 31, 2022
Please show all calculations. Make sure to highlight your final answers, and write clearly 1. Purple Corporation Balance Sheets as of December 31, 2022 Assets 2022 Liabilities and Owner's 2022 Equity Current Assets (CA) Current Liabilities (CL) Cash $122,000 Account Payable $241,000 Account Receivable 149,000 Notes Payable 199,000 Inventory 119,000 Total CL 440,000 Total CA $390,000 Long-term debt $1,251,000 Fixed Assets Net plant and Owner's Equity Equipment $2703,000 Common stock and Paid-in capital $175,000 Retained earnings 1227,000 Total Equity $1402,000 Total liabilities and Total Assets $3,093,000 owners' equity $3,093,000 Based on the balance sheets given for Purple Corp., calculate the following financial ratios for the year 2022 and state if the company is in a good position. a. Current Ratio b. Quick Ratio c. Equity Multiplier d. Total debt ratio
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