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SHOW ALL WORK! 5. The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid
SHOW ALL WORK!
5. The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid expenses $154,000 210,000 240,000 15,000 350,000 Temporary investments Property, plant, and 375,000 equipment Accounts payable Accrued liabilities Income tax payable Notes payable, short-term 245,000 4,000 10,000 85,000 Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal placeStep by Step Solution
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