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 $ 180,000
Total assets $ 840,000
Current ratio 3.50
Acid-test ratio 2.00
Debt to equity ratio 1.80
Required:
Compute the long-term liabilities for Spartan:
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Management Control Systems Performance Measurement Evaluation And Incentives
Authors: Kenneth Merchant, Wim Van Der Stede
4th Edition
1292110554, 978-1292110554
