Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2020 and 2021 partial balance sheetsforOrioleManufacturing Companyappear below: 2020 2021 Current assets $72,000 $67,760 Long-term assets 174,000 184,240 Total assets $246,000 $252,000 Current liabilities

The 2020 and 2021 partial balance sheetsforOrioleManufacturing Companyappear below:

2020 2021

Current assets $72,000 $67,760

Long-term assets 174,000 184,240

Total assets $246,000 $252,000

Current liabilities $46,000 $56,000

Noncurrent liabilities 86,000 95,956

Total Liabilities 132,000 151,956

Stockholders' equity

Common stock 28,000 28,000

Additional paid-In capital 30,000 30,000

Retained earnings 56,000 42,044

Total stockholders' equity 114,000 100,044

Total liabilities and stockholders' equity $246,000 $252,000

(a)

CalculateOriole' current ratio for 2021.(Round answer to 2 decimal places, e.g. 52.75.)

Current ratio$___

Working Capital____

Debt Ratio_____

Acid-Test_____

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

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions