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 | $ | 205,000 |
| Total assets | $ | 1,730,000 |
| Current ratio | 3.8 | |
| Acid-test ratio | 2.80 | |
| Debt to equity ratio | 1.5 | |
Required: Compute the long-term liabilities for Bronco:
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
1118334329, 978-1118334324
