Question
Information from Blain Company's trial balance is as follows: Cash = $120,000 Investment Securities =$375,000 Accounts Receivable = $2,880,000 Inventories = $3,351,000 Prepaid Expenses =
Information from Blain Company's trial balance is as follows:
Cash = $120,000
Investment Securities =$375,000
Accounts Receivable = $2,880,000
Inventories = $3,351,000
Prepaid Expenses = $60,000
ST Notes Payable = $75,000
Accounts Payable = $975,000
Accrued Expenses = $625,000
Income Taxes Payable = $25,000
Payments due within one year on long-term debt = $175,000
Long Term Assets = $10,450,000
Long Term Liabilities = $1,450,000
a) Calculate Blain's current ratio
b)Calculate Blain's quick ratio
c)Calculate Blain's debt ratio
d)Calculate the asset mix for Inventories
e)Calculate Blain's working capital
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