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Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities $ 273,000 286,000 222,000 20,000 801,000 715,000 $ 1,516,000 $ 216,000 62,000 Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $4 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity The company's acid-test (quick) ratio is closest to: 55,000 333,000 120,000 453,000 380,000 90,000 593,000 1,063,000 $ 1,516,000
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