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 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 Lorig-Term Debt Long-Term Debt 30,000 5,000 10,000 30,000

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