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Mayfield Corporation has provided the following financial data: Current assets: Balance Sheet Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant
Mayfield Corporation has provided the following financial data: Current assets: Balance Sheet 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 $ 283,000 296,000 226,000 22,000 827,000 725,000 $ 1,552,000 $ 228,000 64,000 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: 57,000 349,000 124,000 473,000 384,000 92,000 603,000 1,079,000 $ 1,552,000
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