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(Question 1). The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015: Cash and cash equivalents,

(Question 1). The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015:

Cash and cash equivalents, Jan. 1 $ 35,800
Cash and cash equivalents, Dec. 31 150,000
Cash paid to acquire plant assets 23,000
Proceeds from short-term borrowing 10,000
Loans made to borrowers 5,200
Collections on loans (excluding interest) 4,000
Interest and dividends received 32,400
Cash received from customers 835,000
Proceeds from sales of plant assets 9,000
Dividends paid 53,000
Cash paid to suppliers and employees 606,000
Interest paid 19,000
Income taxes paid 70,000

Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.)

(Question 2). A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows:

Assets Liabilities & Stockholders' Equity
Cash $ 95,000 Notes payable (due in 6 months) $ 43,000
Accounts receivable 140,000 Accounts payable 95,000
Inventory 280,000 Long-term liabilities 360,000
Prepaid expenses 60,000 Capital stock, $5 par 300,000
Plant & equipment (net) 570,000 Retained earnings 437,000
Other assets 90,000
Total $ 1,235,000 Total $ 1,235,000

During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages.

a. Compute the current ratio. (Round your answer to 2 decimal places.)

b. Compute the quick ratio. (Round your answer to 2 decimal places.)

c. Compute the working capital

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