Question
partan Sportswear's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory $
partan Sportswear's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement:
| Inventory | $ | 290,000 |
| Total assets | $ | 805,000 |
| Current ratio | 3.40 | |
| Acid-test ratio | 1.40 | |
| Debt to equity ratio | 1.30 | |
Required: Compute the long-term liabilities for Spartan:
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Introduction To Management Accounting Chapters 1 To 14
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Dave Burgstahler, Jeff Schatzberg
15th Edition
0136102778, 9780136102779
