r me 0 (717) Yung Bleu\"Unappreci Cengage Current Year $418,000 484,000 198,000

Question

r me 0 (717) Yung Bleu"Unappreci Cengage Current Year $418,000 484,000 198,000 290,400 149,600 Previous Year $345,600 388,800 129,600 175,700 112,300 Cash Temporary investments Accounts arnd notes receivable (net) Inventories Prepald expenses $1,540,000 $1,152,000 Total current assets Accounts and notes payable (short-term) $336,000 144,000 $480,000 $319,000 Accrued liablüities 231,000 $550,000 current rats, and (3) the quick ratio. Round ratios to one decimal place Total current liabilities a-Determine for each year (1) the working pital, (2) the Current Year Previous Year 1. Working capital 3. Quick ratio tb. The liquidry of Bock Suppliers has improved from the preceding year to the current year. The working capital, current ratio, and quick ratio have ail increased Host of these changes are the nesult of an to current liablities

Explanation / Answer

1 Working capital = Current assets-Current liabilities Current year 990000 =1540000-550000 Previous year 672000 =1152000-480000 2 Current ratio = Current assets/Current liabilities Current year 2.8 =1540000/550000 Previous year 2.4 =1152000/480000 3 Quick ratio: Current year 2.0 =(1540000-290400-149600)/550000 Previous year 1.8 =(1152000-175700-112300)/480000

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