The following data were taken from the balance sheet of Outdoor Suppliers Company: a. Determine for each

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The following data were taken from the balance sheet of Outdoor Suppliers Company: image text in transcribed

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?objs. 2, 3

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Financial Accounting

ISBN: 9780324380675

10th Edition

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

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Question Posted: Jun 11, 2024 12:03 AM

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The following data were taken from the balance sheet of Outdoor Suppliers Company: a. Determine for each

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Dec. 31, 2008 Dec. 31, 2007 Cash $325,000 $300,000 Marketable securities 270,000 256,000 Accounts and notes receivable (net) 440,000 430,000 Inventories 675,000 557,000 Prepaid expenses 130,000 81,000 Accounts and notes payable (short-term) 425,000 450,000 Accrued liabilities 150,000 130,000

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Financial Accounting

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