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Sunland Company provides you with the following balance sheet information as of December 31, 2022. Current assets Long-term assets $10,200 Current liabilities $13,400 26,800
Sunland Company provides you with the following balance sheet information as of December 31, 2022. Current assets Long-term assets $10,200 Current liabilities $13,400 26,800 Long-term liabilities 10,200 Stockholders' equity 13,400 Total assets $37.000 Total liabilities and stockholders' equity $37,000 In addition, Sunland reported net income for 2022 of $15,900, income tax expense of $3,180, and interest expense of $1,100. (a) Compute the current ratio and working capital for Sunland for 2022. (Round ratio to 2 decimal places, eg. 2.75:1. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) Current ratio Working capital () :1 Assume that at the end of 2022, Sunland used $2.800 cash to pay off $2,800 of accounts payable. How would the current ratio and working capital have changed? (Round ratio to 2 decimal places, eg. 2.75:1. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Current ratio Working capital 1 (c) Compute the debt to assets ratio and the times interest earned ratio for Sunland for 2022. (Do not use the information from (b) to determine the solution) (Round answers to 1 decimal place, eg. 15.2 or 15.2%) Debt to assets ratio Times interest earned ratio %
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