Question: Problem 3: Using the balance sheet below, calculate current ratio and gross working capital. Balance Sheet information for XYZ Company: Cash Accounts Receivable Inventory Land

Problem 3: Using the balance sheet below, calculate current ratio and

Problem 3: Using the balance sheet below, calculate current ratio and gross working capital. Balance Sheet information for XYZ Company: Cash Accounts Receivable Inventory Land Buildings Accum. Depreciation 60,000 10,000 40,000 30,000 50,000 (10,000) Accounts Payable Payroll Liabilities Payable Current Long-Term Debt Long-Term Debt 30,000 5,000 10,000 30,000

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