21-23) Urban, Inc. provides the following data: Urban, Inc Comparative Balance S

Question

21-23) Urban, Inc. provides the following data: Urban, Inc Comparative Balance Sheet Year Ended Dec. 31, 2017 Assets Current Assets: Cash and Cash Equivalents $29,000 31,000 Account Receivable, Net Merchandise Inventory Total Current Assets Property, Plant, and Equipment, Net Total Assets $113,000 120,000 Liabilities Current Liabilities Accounts Payable $4,300 Notes Payable Total Current Liabilities Long-term Liabilities Total Liabilities 2 $7 84 $91,200 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $37,000 104,800 $141,800 21. A. Compute the following ratios for Urban Inc. (12pts) Current Ratio (2pts) Debt to Equity Ratio (2pts)

Explanation / Answer

21) Current Ratio = Current Assets/Current Liabilities = $1,13,000 / $     7,200 = 15.69 Debt to equity ratio = Total Debt/Total Equity = $   91,200 / $1,41,800 = 0.64 Note:Total labilities are total debt

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