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To what extent wasMarinEquipment Co. able to show a more favorable balance sheet at December 31 by holding its cash book open? (Compute working capital

To what extent wasMarinEquipment Co. able to show a more favorable balance sheet at December 31 by holding its cash book open? (Compute working capital and the current ratio.) Assume that the balance sheet that was prepared by the company showed the following amounts:(Round ratios to 2 decimal places, e.g. 4.56.)

Dr. Cr. Cash $35,550 Accounts receivable 43,980 Inventory 73,260 Accounts payable $44,230 Other current liabilities 12,986 Per Balance Sheet After Adjustment Current ratio to 1 to 1

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