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K Tolbert Furniture Company has asked you to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during
K Tolbert Furniture Company has asked you to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during 2021. (Click the icon to view the financial s statement data) Read the requirement Data table Calculate the following ratios for 2021 and 2020. Round your answers to two decimal places. a. Net working capital Select the formula and then enter the amounts to calculate the working capital for 2021 and 2020. Cash 2021 2020 Current assets Current liabilities 227,000 S 302,000 Net working capital 2021 2020 $ 24,000 $ 48,000 Short-term investments 35,000 6,000 124,000 131,000 Net receivables Inventory 236,000 271,000 Prepaid expenses 15,000 8,000 Total assets 570,000 540,000 Total current liabilities 227.000 302,000 Long-term debt 117,000 74,000 Income from operations Interest expense 191,000 151,000 46,000 48,000 Print Done
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