D F E 2012 G 20x3 20,000 25,000 85,000 22,000 12,000 164,000 30,000 20,000 95,000 25,000 15,000 185,000 20x2 20x3 62,000 30,000 22,000 11,000 125,000 65,000 30,000 25,000 12,000 132,000 A B C 12 20x1 13 Current Assets: 14 Cash 15,000 15 Marketable Securities 30,000 16 Accounts Receivable (Net) 70,000 17 Inventory. Food 20,000 18 Prepaid Expenses 10,000 19 Total 145,000 20 21 20x1 22 Current Liabilities: 23 Accoounts Payable 60,000 24 Notes Payable 30,000 25 Wages Payable 20,000 26 Taxes Payable 10,000 27 Total 120,000 28 29 Selected Operatioins Data: 30 Sales (Total) ##### 31 Cost of Food Sold 150,000 32 Free Meals - Employees and O 3,000 33 34 35 ANSWER 36 a Current Ratio for 20x1 1.21 37 Current Ratio for 20x2 1.31 38 Current Ratio for 20x3 1.40 39 40 b Acid-Test Ratio for 20x1 0.96 41 Acid-Test Ratio for 20x2 1.04 42 Acid-Test Ratio for 2013 1.10 43 44 C Accounts receivable turnover (2012) 45 Accounts receivable turnover (20x3) 46 47 d Inventory Turnover (2012) 48 Inventory Turnover (20x3) 49 50 e Working Capital (20x1) 51 Working Capital (20x2) 52 Working Capital (20x3) ##### 160,000 3,200 ##### 168,000 3,400