Question
Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $
Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:
| Inventories | $ | 210,000 |
| Total assets | $ | 780,000 |
| Current ratio | 2.90 | |
| Acid-test ratio | 1.50 | |
| Debt to equity ratio | 1.40 | |
Required: Compute the shareholders' equity for Spartan:
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Interpreting and Analyzing Financial Statements
Authors: Karen P. Schoenebeck, Mark P. Holtzman
6th edition
978-0132746243
