Homework Answers
a.
Current assets = Cash + Accounts receivable
= 57,550+72,500
=$130,050
Current liabilities = Accounts payable + Other current liabilities + Salaries and wages payable
= 27,800+22,500+7,500
= $57,800
Current ratio = Current assets/Current liabilities
= 130,050/57,800
= 2.3
b.
Working capital = Current assets - Current liabilities
= 130,050-57,800
= $72,250
c.
Earning per share = Net Income / Average common shares outstanding
= 46,000/23,000
= $2
d.
Debt = Current liabilities + Long term liabilities
= 57,800+0
= $57,800
Debt to assets ratio = Debt/ Total assets
= 57,800/305,000
= 18.95%
| (a) Current Ratio | 2.3:1 |
| (b) Working capital | $72,250 |
| (c) Earning per share | $2 |
| (d) Debt to assets ratio | 18.95% |
Please give a positive rating if you are satisfied with this solution and if you have any query kindly ask.
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