P13-59B (similar to) Comparative financial statement data of Rourke Optical Mart

Question

P13-59B (similar to) Comparative financial statement data of Rourke Optical Mart follow (kk onthe ico n to view the income statements (kk on the icon to view the balance sheets) Other information 1. Market price of Rourke common stock: $93 94 at December 31, 2016, and $112 00 at December 31,2015 2 Common shares outstanding 14,000 during 2016 and 9,000 during 2015 3. All sales on cred Read the requirements average and outstanding ) Requirement 1. Compute the ratios for 2016 and 2015 (Abbreviations used Avg a. Current ratio Select the formula and then enter the amounts to calculate the current ratio for 2016 and 2015 (Round the ratios to two decimal places) Current ratio 2016 2015 Choose from any list or enter any number in the input fiekds and then click Check Answer 16 rensning .1 Clear All 3 4 6 8

Explanation / Answer

Total current assets/Total current liabilities = Current ratio 2016 557000/233000= 2.39 2015 548000/282000= 1.94

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