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Hi can someone explain how to do ratios for this problem? Current ratio, working capital, and inventory turnover ratio? LIBERTY CORPORATION Comparative Balance Sheet December
Hi can someone explain how to do ratios for this problem? Current ratio, working capital, and inventory turnover ratio?
LIBERTY CORPORATION Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets 5 2,450 2,094 1,813 1,611 1,050 1,709 2.120 6,885 18,500 15,737 $ 25,796 22,622 1,324 7,296 Other Assets Total Assets Liabilities Current Liabilities Long-term Liabilities Total Liabilities 7,230 8,467 4,798 12,028 12,259 3.792 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 4.363 7,200 6,000 10.363 $ 25,796 $22,622 6,568 13,768 LIBERTY CORPORATION Income Statement Year Ended December 31, 2019 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Interest Expense Income Before Income Taxes Income Tax Expense Net Income 20,941 7,055 13,886 7,065 6,821 210 6,611 2,563 s 4,048Step by Step Solution
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