Homework Assignment 5 1. Assume a company has working capital equal to $23,000 and total current liabilities equal to $75,000. The current ratio: is 0.31 B) is 1.31 C) is 3.26 cannot be determined from this information. 2. Beginning inventory was $28,000 and ending inventory was $22,000. Cost of goods sold was $190,000 and net sales were $360,000. Inventory turnover for the year was closest to: A) 7.6 B) 8.64 C) 6.79 D) 14.4 3. Complete a financial statement of MY Company. MY Company (a) December 31, 2018 (Dollars in thousands) Cash $95 Total current liabilities $1,700 Receivables 575 Long-term debt (c) Inventories 822 Other long-term liabilities 810 Prepaid expenses (b) Total current assets ) Share capital 183 Plant assets (d) Retained earnings 2,645 Other assets 2,800 Total assets $8,400 Total liabilities and equity S (f) Use the following data to complete MY Company's Balance Sheet. Show your work! Debt Ratio is 0.6 Current Ratio is 1.2 (a) (b)