Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Roys Toys is a manufacturer of toys and childrens products. The following are selected items appearing in a recent balance sheet. Cash and short-term investments

Roys Toys is a manufacturer of toys and childrens products. The following are selected items appearing in a recent balance sheet.

Cash and short-term investments $ 49
Receivables 150
Inventories 75
Prepaid expenses and other current assets 37
Total current liabilities 135
Total liabilities 199
Total stockholders' equity 350

Dollar amounts stated above are in millions.

a-1. Using the information above, compute the amounts of Roy's Toys quick assets. (Enter your answer in millions of dollars.)

a-2. Using the information above, compute the amounts of Roy's Toys total current assets. (Enter your answer in millions of dollars.)

b-1. Compute for Roy's Toys quick ratio. (Round your answer to 1 decimal place.)

b-2. Compute for Roy's Toys current ratio. (Round your answer to 1 decimal place.)

b-3. Compute for Roy's Toys dollar amount of working capital. (Enter your answer in millions of dollars.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Federal Budget Politics Policy Process

Authors: Allen Schick

3rd Edition

0815777353, 9780815777359

More Books

Students also viewed these Accounting questions