Use the Falcon Sporting Goods data in short Exercise S3-12 to compute Falcon's 1. Current ratio 2.

Question:

Use the Falcon Sporting Goods data in short Exercise S3-12 to compute Falcon's

1. Current ratio
2. Debt ratio
Round to 2 decimal places. Do these ratio values look strong, weak or middle-of-the-road?

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Financial Accounting

ISBN: 978-0135012840

7th edition

Authors: Walter T. Harrison, Charles T. Horngren

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Question Posted: Aug 04, 2016 10:17 AM

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Use the Falcon Sporting Goods data in short Exercise S3-12 to compute Falcon's 1. Current ratio 2.

Question:

Cost of goods sold..$126,000 900 Retained earnings, March 31,20X31 Accounts receivable.... 27,700 Property and equipment Total current liabilities.. All other expenses 1,300 Cash. 174,500 net. 45,000 Inventories 7,200 26,000 33,000 .. 4,800 Long-term liabilities .

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Current Ratio Current assets Current liabilities 66400 536...View the full answer

Financial Accounting

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