Question
Balance sheet review Given: cash $1,000,000 retained earnings 100,000,000 bonds payable (due 7/1/27)25,000,000 sales 18,000,000 note payable (due 6/1/17) 2,000,000 accounts receivable 5,000,000 accounts payable
Balance sheet review
Given: cash $1,000,000 retained earnings 100,000,000 bonds payable (due 7/1/27)25,000,000 sales 18,000,000 note payable (due 6/1/17) 2,000,000 accounts receivable 5,000,000 accounts payable 3,000,000 accrued wages and other exps. 1,000,000 inventories 4,000,000 a) What is the company's total current assets? b) What is the company's total current liabilities? c) Calculate the company's working capital. d) If the industry average current ratio is 1.5, how does the company compare? e) What is the company's total long-term liabilities? f) What is the inventory turnover?
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