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Ivanhoe Company provides you with the following balance sheet information as of December 31, 2017. $12,100 $12,900 Current assets Current liabilities Long-term liabilities Long-term assets
Ivanhoe Company provides you with the following balance sheet information as of December 31, 2017. $12,100 $12,900 Current assets Current liabilities Long-term liabilities Long-term assets 29,100 14,300 $41,200 Stockholders' equity Total assets 14,000 $41,200 Total liabilities and stockholders' equity In addition, Ivanhoe reported net income for 2017 of $15,000, income tax expense of $3,100, and interest expense of $1,500 Compute the current ratio and working capital for Ivanhoe for 2017. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio :1 Working capital $ eTextbook and Media Assume that at the end of 2017, Ivanhoe used $2,800 cash to pay off $2,800 of accounts payable. How would the current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) Current ratio :1 Working capital $ eTextbook and Media Compute the debt to assets ratio and the times interest earned for Ivanhoe for 2017. (Round answers to 2 decimal places, e.g. 2.75.) Debt to assets ratio :1 Times interest earned ratio times eTextbook and Media
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