Question Completion Status: QUESTION 1 Find the best match A. Acid test ratio or Quick ratio - - Current Assets - current liabilities 7 Current assets divided by current liabilities B. Current Ratio (Current assets-prepaid expenses-merchandise inventory) divided by current liabilities C. Working capital D. Gross Margin Ratio QUESTION 2 James Company's current assets are Cash-$40,000, Accounts Receivable $5000, Inventory $3000, and prepaid expenses $2000. Their current liabilities are $10,000. Their long term liabilities were $20,000. What is the company's working capital? 4.5 to 1 - 7 What is James company's current ratio? - What is the company's quick ratio? B. $40,000 C. $30,000 How much are James Company's total liabilities? D.5 to 1 Click Save and Submit to save and submit Click Sow All Save All An What is James company's current ratio? B. $40,000 What is the company's quick ratio? C. $30,000 How much are James Company's total liabilities? D.5 to 1 QUESTION 3 Jakes company had the following accounts: Revenue-$100,000, Interest Expense-$15000, Cost of Goods sold-$40,000. Selling Expenses $15,000, Rent revenue $10,000, and Administrative Expenses-$10,000. Make a multi-step Income statement on a piece of scrap paper and answer the following matching questions. A. $60,000 B. $140,000 Gross Margin or Gross Profit is C. $25,000 total Operating Expenses are D. $70,000 Other income and Expenses is E. ($5000) Net income is F. $35,000 G. $30,000 Chick Save and submit to serve and submit Click Save answers to swall answers Save AR