=+The following data were taken from the balance sheet of Bock Suppliers Company: Dec. 31, 2010 Dec.

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=+The following data were taken from the balance sheet of Bock Suppliers Company:

Dec. 31, 2010 Dec. 31, 2009 Cash $ 295,000 $ 210,000 Temporary investments 315,000 230,000 Accounts and notes receivable (net) 290,000 250,000 Inventories 405,000 309,000 Prepaid expenses 195,000 105,000 __________ __________ Total current assets $1,500,000 $1,104,000 __________ __________ __________ __________ Accounts and notes payable

(short-term) $ 290,000 $ 320,000 Accrued liabilities 210,000 140,000 __________ __________ Total current liabilities $ 500,000 $ 460,000 __________ __________ __________ __________

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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