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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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