Question
Data pertaining to the current position of Forte Company follow: Cash $447,500 Marketable securities 180,000 Accounts and notes receivable (net) 325,000 Inventories 700,000 Prepaid expenses
Data pertaining to the current position of Forte Company follow:
Cash | $447,500 |
Marketable securities | 180,000 |
Accounts and notes receivable (net) | 325,000 |
Inventories | 700,000 |
Prepaid expenses | 46,000 |
Accounts payable | 210,000 |
Notes payable (short-term) | 240,000 |
Accrued expenses | 300,000 |
Required:
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