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:
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?
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ANSWER a To calculate the working capital current ratio and quick ratio we need to use the following ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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