Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help with these questions The financial statements of Weston Office Supply include the following items: What is 2017 current ratio? (Round your answer to
please help with these questions
The financial statements of Weston Office Supply include the following items: What is 2017 current ratio? (Round your answer to two decimal places.) Supporting Materials 2017 2016 . Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $51,500 32,000 96,000 126,000 533,000 251,000 63,000 $49,000 17,000 97,000 121,000 547,000 241,000 52,000 0.82 O 0.57 1.22 1.70 Brink Moving Company reported the following amounts on its balance sheet as of December 31, 2016 and December 31, 2017: For the vertical analysis, what is the percentage of current assets as of December 31, 2017? (Round your answer to two decimal places.) Supporting Materials Cash and Receivables Merchandise Inventory Property, Plant and Equipment, net Total Assets Total Liabilities 2017 $165,000 195,000 810,000 $1,170,000 $485,000 2016 $65,000 160,000 760,000 $985,000 $405,000 30.77% 22.84% 29.61% 44.44% Additional information provided by the company includes the following: Current assets, other than cash, decreased by $5,200. Current liabilities increased by $2,400. Compute the net cash provided by (used for) operating activities. Supporting Materials $156,300 Rodriguez, Inc Income Statement Year Ended December 31, 2017 Sales Revenue $155,000 Interest Revenue 6,700 Loss on Sale of Plant Assets 5,400) Total Revenues and Gains Cost of Goods Sold 150,000 Salary Expense 22000 Depreciation Expense 7,100 Other Operating Expenses 13,000 Interest Expense 16,200 Income Tax Expense 5,600 Total Expenses Net Income (Loss) 213.900 $(57,600) $(37,500) $165.200) $10,600 $42.900 Dividends received from available-for-sale investments are recorded with a debit to the Dividend Revenue account. O True O False Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started