The following data were taken from the balance sheet of Gostkowski Company at the end of two

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The following data were taken from the balance sheet of Gostkowski Company at the end of two recent fiscal years:

The following data were taken from the balance sheet of

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
b. What conclusions can be drawn from these data as to the company's ability to meet its currently maturing debts?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial and Managerial Accounting

ISBN: 978-1285866307

13th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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