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there is no more information Refer to the financial statement data for Patriot Corp. for 2011. Compute (a) Current ratio (b) Quick ratio (c) Long-term
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Refer to the financial statement data for Patriot Corp. for 2011. Compute (a) Current ratio (b) Quick ratio (c) Long-term debt to shareholders' equity ratio (d) Interest coverage ratio Equipment Less: Accumulated depreciation Equipment-Net Land Total assets: Liabilities: Aocounts Payable Accrued Salaries Payable Rent Expense Payable lncome Tax Payable Current Liabilities Long-term note payable Total Liabilities Stockholders' Equity: Commen stock Retained carnings Total liabilities and stockholders' equity: Patriot Corp. Income Statement For the year ended December 31, 2011 Revenues Cost of goods sold 194,063 155,25038,813 132,250 $575,000 \begin{tabular}{r} $69,000 \\ 51,750 \\ 35,750 \\ 4,788 \\ \hline 161,288 \end{tabular} 333,788172,500 \begin{tabular}{r} 115,000 \\ 126,212 \\ \hline \end{tabular} 5575,000 $373,750 (224.250) Step by Step Solution
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