1. Listed below are assets and liabilities of Oriole Corporation for the years 2021 and 2022. Each is listed in alphabetical order.

Assets		2022		2021		Liabilities		2022		2021
Accounts receivable		$2,200		$2,900		Accounts payable		$4,400		$3,500
Cash		1,400		1,728		Bonds payable		31,500		26,500
Equipment (net)		46,500		52,500		Notes payable (current)		2,700		2,100
Inventory		4,200		4,700		Notes payable (long-term)		5,500		4,500
Land		24,500		24,500
Supplies		933		1,200
Total assets		$79,733		$87,528		Total liabilities		$44,100		$36,600

Oriole reported net income of $50,500 for 2022 and $44,500 for 2021.

a. Compute total current assets and total current liabilities for each year.

b. Compute working capital and the current ratio for each year. (Round current ratio to 2 decimal places, e.g. 52.75.)

c. Compute the debt to assets ratio for each year. (Round answers to 2 decimal places, e.g. 52.75%.)

2. Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions of dollars) for a recent year follow.

		End of Year				Beginning of Year
Cash and cash equivalents			$72				$358
Receivables (net)			1,942				1,788
Merchandise inventory			900				956
Other current assets			303				259
Total current assets			$3,217				$3,361
Total current liabilities			$1,601				$1,635

a. Compute working capital and the current ratio at the beginning of the year and at the end of the year. (Round current ratio to 2 decimal places, e.g. 15.25.)

3. Comparative financial statement data for Blossom Corporation and Pina Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022.

		Blossom Corporation		Pina Corporation
		2022		2022
Net sales		$2,232,000		$768,800
Cost of goods sold		1,457,000		421,600
Operating expenses		350,920		121,520
Interest expense		11,160		4,712
Income tax expense		105,400		44,640
Current assets		460,561		192,317
Plant assets (net)		659,680		173,263
Current liabilities		82,243		41,808
Long-term liabilities		134,540		50,448

a. Compute working capital and the current ratios for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7 : 1.)

b. Compute the debt to assets ratio for each company for 2022. (Round debt to assets ratio to 1 decimal place, e.g. 78.9%.)

		Debt to Assets Ratio
Blossom Corporation		enter debt to assets ratio in percentages rounded to 1 decimal place %
Pina Corporation		enter debt to assets ratio in percentages rounded to 1 decimal place %

4. These items are taken from the financial statements of Grouper Corporation for 2022.

Retained earnings (beginning of year)		$33,280
Utilities expense		2,110
Equipment		68,280
Accounts payable		22,570
Cash		15,070
Salaries and wages payable		5,840
Common stock		12,000
Dividends		12,000
Service revenue		69,290
Prepaid insurance		6,340
Maintenance and repairs expense		1,690
Depreciation expense		3,490
Accounts receivable		15,970
Insurance expense		2,310
Salaries and wages expense		38,290
Accumulated depreciationequipment		22,570

a. Prepare an income statement for the year ended December 31, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

5. You are provided with the following information for Ayayai Enterprises, effective as of its April 30, 2022, year-end.

Accounts payable		$844
Accounts receivable		910
Accumulated depreciationequipment		670
Cash		1,370
Common stock		1,200
Cost of goods sold		1,070
Depreciation expense		325
Dividends		335
Equipment		2,520
Income tax expense		175
Income taxes payable		145
Insurance expense		220
Interest expense		410
Inventory		1,067
Land		3,200
Mortgage payable		3,600
Notes payable (due March 31, 2023)		161
Prepaid insurance		70
Retained earnings (beginning)		1,600
Salaries and wages expense		690
Salaries and wages payable		232
Sales revenue		5,200
Stock investments (short-term)		1,290

a. Prepare an income statement for Ayayai Enterprises for the year ended April 30, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)