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WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 5519,159 166,106 232,548 382,044 49,832 83,053 1,432,742 1384,212 568,003 $3,384,962 $274,579 187,064 260,190
WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 5519,159 166,106 232,548 382,044 49,832 83,053 1,432,742 1384,212 568,003 $3,384,962 $274,579 187,064 260,190 352022 22958 85,029 1,181,842 625421 425,000 $2,232,263 Current Assets Cash and cash equivalents Marketable securities Accounts receivable (net) Inventories Prepaid expenses Other current assets Total Current Assets Property, plant and equipment Long-term investment Total Assets Current Liabilities Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Current Liabilities Long term debt Deferred income taxes Total Liabilities Common stock Additional paid in capital Retained earnings $306,376 155,000 228,700 246,292 87.962 1,024,330 500,000 193,515 1.717,845 $425,250 356,450 B12 $170.419 168,000 257,631 150,285 161,020 907,355 300,000 236,164 1443,519 $125,000 344,335 319 409 Current liabilities Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Current Liabilities Long-term debt Deferred income taxes Total Liabilities Common stock Additional paid-in capital Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $306,376 155,000 228,700 246,292 87.962 1,024,330 500,000 193,515 1.717,845 $425,250 356,450 885,417 1,667,117 $3,384 962 $170,419 168,000 257,631 150,285 161,020 907.355 300,000 236,164 1,443,519 $125,000 344,335 319,409 788,744 $2,232,263 Selected Income Statement Data for the year ending December 31, Year 7 Net sales Cost of goods sold Selling expenses Operating income Interest expense Earnings before income taxes Income tax expense Net income $4,885,340 (2,978,182) (884,685) 1,022,473 (55,240) 967,233 (401.225) $566,008 Earnings before income taxes Income tax expense Net income 1902 967,233 (401.225) $566,008 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures Required 31,310,476 $745,862 Wilmington Corporation's quick ratio in Year 7 was: Select one a. 0.90 b. 1.12 c.0.67 d. 1.40
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