Question
Based on the following information, compute the (1) current ratio and (2) working capital. Current assets $200,000 Total assets 900,000 Current liabilities 80,000 Total liabilities
- Based on the following information, compute the (1) current ratio and (2) working capital.
Current assets $200,000
Total assets 900,000
Current liabilities 80,000
Total liabilities 500,000
(1) Current Ratio (2) Working Capital
Ranger Corporation reports the following amounts in their 2015 financial statements:
At December 31, 2015 For the Year 2015
Total assets $2,000,000
Total liabilities 1,310,000
Total stockholders equity ?
Interest expense $25,000
Income tax expense 130,000
Net income 150,000
Instructions
- Compute the December 31, 2013, balance in stockholders equity.
- Compute the debt to assets ratio at December 31, 2015.
- Compute times interest earned for 2015.
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The New Yellow Book Government Auditing Standards
Authors: Rebecca A. Meyer
1st Edition
1119784638, 978-1119784630
