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Bridgeport Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. BRIDGEPORT COMPANY BALANCE SHEET DECEMBER 31, 2017
Bridgeport Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. BRIDGEPORT COMPANY BALANCE SHEET DECEMBER 31, 2017 Cash $21,300 Accounts payable $73,000 Receivables 103,000 Long-term notes payable 225,000 Inventory 120,000 64,000 336,000 $524,300 Common stock (no par) Retained earnings Plant assets (net) 106,300 $524,300 The net income for 2017 was $43,000. Assume that total assets are the same in 2016 and 2017. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio (d) Return on assets
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