Question
Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $
Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:
| Inventories | $ | 170,000 |
| Total assets | $ | 1,850,000 |
| Current ratio | 4.2 | |
| Acid-test ratio | 3.20 | |
| Debt to equity ratio | 1.5 | |
Required: Compute the long-term liabilities for Bronco:
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Auditing & Assurance Services
Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau
8th Edition
978-1260703733, 1260703738
