Use the following to answer questions A to C: Cash Accounts rec. Inventory Current assets Fixed...

 

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Use the following to answer questions A to C: Cash Accounts rec. Inventory Current assets Fixed assets Total assets 2001 $ 50 100 365 515 840 $1.355 2002 $60 80 510 650 930 XYZ Corporation Balance Sheet for End of Year 2001, 2002 Accounts payable Notes payable Current liabilities Long-term debt Common stock $1.580 A. What was the current ratio for XYZ Co. for 2002? B. What was the quick ratio for XYZ Co. for 2002? C. What is the change in networking capital in 2002? 2001 $35 ($1 par value) Retained earnings 505 Total liab. & equity $1.355 [5] [5] [10] 40 75 725 50 2002 $50 66 116 725 100 639 $1.580 (P Use the following to answer questions A to C: Cash Accounts rec. Inventory Current assets Fixed assets Total assets 2001 $ 50 100 365 515 840 $1.355 2002 $60 80 510 650 930 XYZ Corporation Balance Sheet for End of Year 2001, 2002 Accounts payable Notes payable Current liabilities Long-term debt Common stock $1.580 A. What was the current ratio for XYZ Co. for 2002? B. What was the quick ratio for XYZ Co. for 2002? C. What is the change in networking capital in 2002? 2001 $35 ($1 par value) Retained earnings 505 Total liab. & equity $1.355 [5] [5] [10] 40 75 725 50 2002 $50 66 116 725 100 639 $1.580 (P

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A computation of current ratio for 2002 current ratio curarnt Ass... View the full answer