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The following summary is provided for MNO Automotive Inc. for 2023: Assets Amount ($) Cash 50,000 Accounts Receivable 150,000 Inventory 300,000 Property, Plant & Equipment
The following summary is provided for MNO Automotive Inc. for 2023:
Assets | Amount ($) |
Cash | 50,000 |
Accounts Receivable | 150,000 |
Inventory | 300,000 |
Property, Plant & Equipment | 700,000 |
Total Assets | 1,200,000 |
Liabilities and Equity | Amount ($) |
Accounts Payable | 100,000 |
Short-term Debt | 200,000 |
Long-term Debt | 400,000 |
Common Stock | 300,000 |
Retained Earnings | 200,000 |
Total Liabilities and Equity | 1,200,000 |
Requirements:
- Calculate the Current Ratio.
- Determine the Quick Ratio.
- Compute the Debt to Equity Ratio.
- Assess the company's liquidity and leverage.
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