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2. (4 points) Orgeron Corporation's most recent balance sheet and income statement appear below: Year 1 Statement of Financial Position December 31, Year 2 and
2. (4 points) Orgeron Corporation's most recent balance sheet and income statement appear below: Year 1 Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Assets Year 2 Current assets: Cash $ 260 Accounts receivable 140 Inventory 180 Prepaid expenses Total current assets 640 Plant and equipment, net 700 Total assets $1.340 $ 120 190 160 60 540 750 $1.290 S 170 S 150 300 Liabilities and Stockholders' Equity Current liabilities Accounts payable. Accrued liabilities Notes payable, short term... Total current liabilities... Bonds payable. Total liabilities.. Stockholders' equity: Preferred stock, $100 par value, 5% Common stock, S2 par value Additional paid in capital-common stock... Retained earnings.... Total stockholders' en 290 580 100 200 100 360 760 310 710 Font Paragraph Preferred stock, $100 par value, 5%...... Common stock, $2 par value. Additional paid in capital-common stock... Retained earnings ... Total stockholders' equity Total liabilities & stockholders' equity - 100 200 100 360 760 acer 800 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $1,260 Cost of goods sold........ Gross margin.......... Selling and administrative expense Net operating income....... Interest expense Net income before taxes....... Income taxes (30).. .... . Net income S105 Compute the following for Year 2 a Working capital b. Current ratio c. Acid-test ratio d Accounts receivable tumorer te acer TER TY
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