Question
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory $
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement:
| Inventory | $ 190,000 |
|---|---|
| Total assets | $ 1,640,000 |
| Current ratio | 3.6 |
| Acid-test ratio | 2.65 |
| Debt to equity ratio | 1.5 |
Required:
Compute the shareholders' equity for Bronco:
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New Auditors Guide To Internal Auditing
Authors: Bruce R. Turner
1st Edition
1634540549, 978-1634540544
