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The following data were taken from the balance sheet of Bock Suppliers Company: Dec. 31, 2014 Dec. 31, 2013 Cash $615,600 $448,000 Temporary investments 712,800
The following data were taken from the balance sheet of Bock Suppliers Company:
Dec. 31, 2014 | Dec. 31, 2013 | |||||||
Cash | $615,600 | $448,000 | ||||||
Temporary investments | 712,800 | 504,000 | ||||||
Accounts and notes receivable (net) | 291,600 | 168,000 | ||||||
Inventories | 1,229,600 | 854,000 | ||||||
Prepaid expenses | 633,400 | 546,000 | ||||||
Total current assets | $3,483,000 | $2,520,000 | ||||||
Accounts and notes payable | ||||||||
(short-term) | $469,800 | $490,000 | ||||||
Accrued liabilities | 340,200 | 210,000 | ||||||
Total current liabilities | $810,000 | $700,000 |
a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
2014 | 2013 | |||||
1. Working capital | $ | $ | ||||
2. Current ratio | ||||||
3. Quick ratio |
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