The following financial data for the Freemont Corporation are to be used in answering self-test problems 1-6. Balance Sheet ($000) Assets Liabilities & Stockholders' Equity Cash $ 1,500 Accounts payable $12,500 Marketable securities 2,500 Notes payable 12,500 Accounts receivable 15,000 Total current liabilities $25,000 Inventory 33,000 Long-term debt 22,000 Total current assets $52,000 Total liabilities $47,000 Fixed assets (net) 35,000 Common stock (par value) 5,000 Total assets $87,000 Contributed capital in excess of par 18,000 Retained earnings 17,000 Total stockholders' equity $40,000 Total liabilities and stockholders' equity $87,000 Income Statement (5000) Sales (all on credit) Cost of sales Gross margin Operating expenses Earnings before interest and taxes Interest expense Earnings before taxes Income tax $130,000 103,000 $ 27,000 16,000 $ 11,000 3,000 $ 8,000 3,000 $ 5,000 Earnings after taxes *hachutes SXxxcoin lease payments Stock price Book value/share Number of shares Other Information $9.50 $8.00 5,000 (000) ST1. Calculate the following liquidity ratios: a. Current ratio b. Quick ratio Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned or duplicated, in whole or in pari. WCN 02-200-208