Calculate the current ratio and acid-test ratio.

calculate current ratio and acid-test ratio

324,004 STOSS Pront Expenses: General and administrative Marketing Depreciation Interest Earnings before taxes Income taxes 150,000 150,000 50,764 56,997 201,303 73,076 $128,227 150,000 130,000 40,578 44,910 163,576 60,184 $103,392 Net income (a) Your answer is correct. Calculate Genatron's dollar amount of net working capital in each year. 2017 2016 Net working capital 476606 430085 SHOW SOLUTION LINK TO TEXT Attempts: 1 of 2 used PRINTER VERSION BACK Question 11 Financial statements for the Genatron Manufacturing Corporation for the years 2017 and 2016 are show Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $41,761 $51,218 Accts. receivable 261,311 200,199 Inventory 504,005 451,759 Total current assets 807,077 703,176 Fixed assets, net 400,000 300,000 Total assets $1,207,077 $1,003,176 Hy LIABILITIES AND EQUITY Accts. payable $170,312 $132,932 Bank loan 90,159 90,159 Accruals 70,000 50,000 330,471 273,091 Total current liabilities 390,667 291,585 Long-term debt, 12% 300,000 300,000 Common stock, $10 par 47,935 47,935 Capital surplus PRINTER VERSION 4 BACK Accruals 70,000 50,000 Total current liabilities 330,471 273,091 Long-term debt, 12% 390,667 291,585 Common stock, $10 par 300,000 300,000 Capital surplus 47,935 47,935 Retained earnings 138,004 90,565 Total liabilities & equity $1,207,077 $1,003,176 Genatron Manufacturing Corporation Income Statement 2017 2016 Net sales $1,522,659 $1,322,659 Cost of goods sold 913,595 793,595 Gross profit 609,064 529,064 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 50,764 40,578 Interest 56,997 44,910 Earnings before taxes 201,303 163,576 Income taxes 73,076 60,184 Net income $128,227 $103,392 Your answer is correct. Calculate Genatron's dollar amount of net working capital in each year. 2017 2016 Net working capital 476606 430085 SHOW SOLUTION LINK TO TEXT Attempts: 1 of 2 used udy (b) Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decimal places, e.g. 52.75.) 2017 2016 Current ratio Acid-test ratio Attempts: 0 of 2 used