Suppose Kroger Co.s 2014 financial statements contained the following data (in millions). Current assets ........ $ 7,450

Question:

Suppose Kroger Co.’s 2014 financial statements contained the following data (in millions).
Current assets ........ $ 7,450
Total assets ........ 23,093
Current liabilities ....... 7,714
Total liabilities ........ 18,187
Cash ............ 424
Accounts receivable ..... $909
Interest expense ...... 502
Income tax expense ..... 532
Net income ........ 70

Instructions
Compute these values:
(a) Working capital.
(b) Current ratio.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For  book-img-for-question

Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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