Question: Using the balance sheet below, calculate current ratio and gross working capital. Balance Sheet information for XYZ Company: Cash 60,000 Accounts Payable 30,000 Accounts Receivable

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

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