CORP FIN FINAL PT B

A firms balance sheet contains $3,200 of cash, $20,000 of fixed assets, $13,800 of accounts receivable, $7,200 of accounts payable, $5,000 of inventory, and $11,000 on a revolving line of credit. Assuming that list contains all of the companys assets and liabilities:

11. How much are current assets? (Show calculation)

12. What is the companys quick ratio? (Show calculation)

13. What is the companys book value? (Show calculation)

A company began the year with retained earnings of $14,000. Net income for the year was $10,250, it repaid $4,500 of its line of credit balance, and it paid dividends to its shareholders of $11,000. What was the companys retained earnings at the end of the year? (Show calculation)

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