Use the Falcon Sporting Goods data in short Exercise S3-12 to compute Falcon's 1. Current ratio 2.
Question:
1. Current ratio
2. Debt ratio
Round to 2 decimal places. Do these ratio values look strong, weak or middle-of-the-road?
Transcribed Image Text:
Cost of goods sold..$126,000 900 Retained earnings, March 31,20X31 Accounts receivable.... 27,700 Property and equipment Total current liabilities.. All other expenses 1,300 Cash. 174,500 net. 45,000 Inventories 7,200 26,000 33,000 .. 4,800 Long-term liabilities .
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Current Ratio Current assets Current liabilities 66400 536...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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