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Using these accounts, how would I calculate the current ratio? Cash on Hand $2,275.23 $1,987.28 Regular Checking Account $557,125.92 $198,116.52 Payroll Checking Account $0.00 $0.00
Using these accounts, how would I calculate the current ratio?
| Cash on Hand | $2,275.23 | $1,987.28 |
| Regular Checking Account | $557,125.92 | $198,116.52 |
| Payroll Checking Account | $0.00 | $0.00 |
| Savings Accounts | $3,645,599.15 | $3,044,958.13 |
| Accounts Receivable | $51,515,259.98 | $16,410,902.71 |
| Other Receivables | $1,250,000.00 | $0.00 |
| Allowance For Doubtful Accounts | ($1,239,009.75) | ($1,262,819.88) |
| Inventory | $67,724,527.50 | $18,825,205.24 |
| Reserve for Inventory Obsolesence | ($846,000.00) | ($3,012,000.00) |
| Prepaid Insurance | $3,424,213.78 | $743,314.38 |
| Prepaid Rent | $0.00 | $200,000.00 |
| Office Supplies | $8,540.00 | $7,406.82 |
| Notes Receiveable-Current | $0.00 | $0.00 |
| Other Current Assets | $0.00 | $0.00 |
| Land | $117,000.00 | $117,000.00 |
| Building and Land Imporvements | $674,313.92 | $623,905.92 |
| Machinery, Equipment, Office Furniture | $2,929,097.13 | $433,217.10 |
| Accum Depreciation | ($609,500.00) | ($163,500.00) |
| Investments | $1,998,780.39 | $572,691.08 |
| Other NonCurrent Assets | $53,840.59 | $53,840.59 |
| Accounts Payable | ($1,922,095.91) | ($4,633,118.09) |
| Sales Tax Payable | $0.00 | $0.00 |
| Wages Payable | $0.00 | ($29,470.32) |
| Fica Employee Withholding | ($8,439.65) | ($1,318.69) |
| Medicare Withholding | ($11,414.99) | ($583.99) |
| Federal Payroll Taxes Payable | ($118,086.12) | ($6,033.01) |
| FUTA Tax payable | $0.00 | $0.00 |
| State Payroll Taxes Payable | ($55,106.86) | ($2,815.47) |
| SUTA Tax Payable | $0.00 | $0.00 |
| Fica Employer Withholding | ($8,439.65) | ($1,318.69) |
| Medicare Employer Withholding | ($11,414.99) | ($583.99) |
| Line of credit | ($44,403,000.00) | ($10,000,000.00) |
| Current Portion Long- Term Debit | $0.00 | $0.00 |
| Other Current Liabilities | $0.00 | $0.00 |
| Notes Payable- NonCurrent | ($12,000,000.00) | $0.00 |
| Common Stock | ($8,105,000.00) | ($8,105,000.00) |
| Paid-In- Capital | ($7,423,000.00) | ($7,423,000.00) |
| Retained Earnings | ($6,590,983.64) | ($2,219,620.65) |
| Sales- Spotlight | ($242,713,452.88) | ($246,172,918.44) |
| Sales Returns | $11,100,220.89 | $4,497,583.20 |
| Warranty Expense | $1,158,128.47 | $1,100,281.48 |
| Income from Investments | ($1,426,089.31) | $0.00 |
| Interest Income | ($131,881.46) | ($204,302.81) |
| Miscellaneous Income | ($2,166,000.00) | $0.00 |
| Cost Of Goods Sold | $130,196,645.26 | $141,569,221.61 |
| Frieght | $4,240,263.09 | $4,302,951.46 |
| Advertsing Expense | $1,036,854.01 | $897,140.01 |
| Auto Expense | $210,502.80 | $208,974.39 |
| Research and Development | $528,870.44 | $31,212,334.17 |
| Depreciation Expense | $446,000.00 | $133,000.00 |
| Warehouse Salaries | $4,720,715.56 | $4,633,383.82 |
| Property Tax Expense | $99,332.45 | $80,495.32 |
| Legal and Professional Expense | $4,913,224.45 | $3,605,133.96 |
| Bad Debt Expense | $0.00 | $1,622,425.99 |
| Insuarnce Expense | $36,106.92 | $853,942.65 |
| Maintenance Expense | $35,502.87 | $61,136.04 |
| Utilities | $137,332.18 | $135,642.99 |
| Phone | $52,599.02 | $76,373.78 |
| Postal | $77,803.61 | $128,033.21 |
| Miscellaneous Office Expense | $24,891.82 | $17,023.27 |
| Payroll Tax Exp | $1,577,811.85 | $1,550,989.06 |
| Pension/ Profit-sharing plan Ex | $3,300,000.00 | $3,000,000.00 |
| Rent or lease Expense | $1,206,574.00 | $2,603,485.87 |
| Administrative Wages Expense | $16,197,225.43 | $16,875,305.98 |
| Interest Exepnse | $2,591,736.50 | $875,000.00 |
| Income tax Expense- Federal | $8,900,000.00 | $2,365,000.00 |
| Income tax Expense- State | $3,100,000.00 | $429,000.00 |
| Loss on Legal Settlement | $0.00 | $19,172,000.00 |
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