Question
An incomplete portion of Skipity Bo-Bos financial statements is noted below. They are currently assessing their ability to purchase short-term investments for the following year.
An incomplete portion of Skipity Bo-Bos financial statements is noted below. They are currently assessing their ability to purchase short-term investments for the following year. They currently have none. Determine the following measures for the fiscal year ended May 31.
a.) Working Capital
b.) Quick ratio
Cash 5,965
Accounts receivable at May 31, 2016 $3,117
Prepaids ???
Inventories at May 31, 2016 3,434
Total long-term assets at May 31, 2016 3,958
Total assets at May 31, 2016 17,584
Current liabilities ???
Long-term liabilities at May 31, 2016 2,502
Total stockholders' equity at May 31, 2016 11,156
Total liabilities & stockholders' equity at May 31, 2016 17,584
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