Question
Data pertaining to the current position of Lucroy Industries Inc. follow: Cash $425,000 Marketable securities 160,000 Accounts and notes receivable (net) 310,000 Inventories 700,000
Data pertaining to the current position of Lucroy Industries Inc. follow: Cash $425,000 Marketable securities 160,000 Accounts and notes receivable (net) 310,000 Inventories 700,000 Prepaid expenses 40,000 Accounts payable 180,000 Notes payable (short-term) 255,000 Accrued expenses 325,000 Required: 1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios to one decimal place. a. Working capital b. Current ratio c. Quick ratio
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International Financial Reporting and Analysis
Authors: David Alexander, Anne Britton, Ann Jorissen
5th edition
978-1408032282, 1408032287, 978-1408075012
