Welcome to MyLab Accounting! When you are working through questions in MyLab Accounting, remember the following tips: 1. The problem statement will be above the gray line. Some of the data necessary to complete the problem, such as dataltansaction tables, ete. may be contained in popups within the problem sthtoment to save spece 2. The area above the gray line will always remain visiblo while you work on your question. 3. The area below the gray line is where you enter your answer(s) This exercise is not meant to assess your accounting knowlodge and you are not being scored. The purpose of this exercise is to loarn to navigate through Myt ab Accounting it is not importart that you knew the correct answers or answer the guestions comectly. Work through this exereise to ensure a successtul experience when the assignments do count To begin, read the following probien stalement and then click the licons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimixe them in order to continue vewing your work space. Ow Sporting Goods Company reported the folowing at March 31, 2022, with amounts in thousands. III (Click the icon to view the balance sheet) Resd the reauicements. that step Duttons wath the Question number and the number of protiems in the homework appear an the top of the screen. Uie these butions to move to other questons in the aisignment. You will also see an Overvew button that you can click at any bme to see an Overvew of how youre daing en the aspignment. You can easly move beck and forth between questions by cicking their name. the table will be graded, select an incorrect answer (choose Total slockholders' equity) and select the 'Check Arowor button at the bothom of the screen to see how you did: Requirement 1. Compule Owrs current ratio. (Round the current ratio to two decinal places ) Notice that you are given a feedback message that points you loward incorrect answers. The feedback will not be specific enough to answer the question for you, but to point you to ke first arror that you have made in the problem step. You should enter all of the inguts for that partcular step before checking your answers. Generaly you will get three attempts at each step before you will be graded, although instructors can specily those settings. Owl Sporting Goods Company Balance Sheet March 31, 2022 ASSETS Current: Cash Accounts receivable Inventories Other current assets Total current assets Property and equipment, net Other assets Total assets LIABILITIES Total current liabilities Long-term liabilities Total liabilities STOCKHOLDERS' EQUITY Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity
