The most recent balance sheet of Raconteurs, Inc., (in millions) is found here: LOADING.... a. Calculate Raconteurs' current ratio and acid-test (quick) ratio. b. Benchmark ratios for the current and acid-test (quick) ratio are 1.45 and 1.22, respectively. What can you say about the liquidity of Raconteur's operations based on these two ratios? a. Calculate Raconteurs' current ratio and acid-test (quick) ratio. Raconteurs' current ratio is Current assets Cash and marketable securities $9.9 Accounts receivable $40.6 Inventory $59.1 Total current assets $109.6 Current liabilities Accrued wages and taxes $5.3 Accounts payable $34.1 Notes payable $30.3 Total current liabilities $69.7
The most recent balance sheet of Raconteurs, Inc., (in millions) is found here: LOADING.... a. Calculate...
Sandhill Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable $396,000 Accounts payable $820,000 109,000 41,300 $970,300 1,177,000 $2,147,300 1,318,000 819,100 $2,137,100 $4,284,400 securities Accounts receivable Inventory Other current assets 711,200 Notes payable 1,156,000Accrued income taxes 42,200 Total current liabilities Total current assets $2,305,400 Long-term debt Net plant and equipment Total liabilities Common stock Retained earnings 1,979,000 Total common equity Total assets $4,284,400 Total liabilities and equity Using the 2017 data for...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $421,800 $332,800 Marketable securities 488,400 374,400 Accounts and notes receivable (net) 124,800 Inventories 507,500 199,800 732,600 377,400 $2,220,000 Prepaid expenses 324,500 Total current assets $1,664,000 Current liabilities: Accounts and notes payable (short-term) $429,200 $448,000 Accrued liabilities 310,800 192,000 Total current liabilities $740,000 $640,000 a. Determine for each year (1) the...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $480,300 $386,400 Marketable securities 556,200 434,700 Accounts and notes receivable (net) 227,500 144,900 Inventories 730,000 420,900 Prepaid expenses 376,000 269,100 Total current assets $2,370,000 $1,656,000 Current liabilities: Accounts and notes payable (short-term) $458,200 $483,000 Accrued liabilities 331,800 207,000 Total current liabilities $790,000 $690,000 a. Determine for each year (1) the working capital, (2)...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $563,200 $435,200 Marketable securities 489,600 652,100 266,700 Accounts and notes receivable (net) 163,200 Inventories 463,300 290,400 185,600 Prepaid expenses 238,700 Total current assets $2,184,000 $1,564,000 Current liabilities: Accounts and notes payable (short-term) $452,400 327,600 $476,000 204,000 Accrued liabilities Total current liabilities $780,000 $680,000 a. Determine for each year (1) the working capital, (2)...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $396,700 $320,000 Marketable securities 459,400 360,000 Accounts and notes receivable (net) 187,900 120,000 Inventories 382,800 244,000 Prepaid expenses 197,200 156,000 Total current assets $1,624,000 $1,200,000 Current liabilities: Accounts and notes payable (short-term) $336,400 $350,000 Accrued liabilities 243,600 150,000 Total current liabilities $580,000 $500,000 a. Determine for each year (1) the working capital, (2)...
he following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $524,400 $436,800 Marketable securities 607,200 491,400 Accounts and notes receivable (net) 248,400 163,800 Inventories 316,800 95,200 Prepaid expenses 163,200 60,800 Total current assets $1,860,000 $1,248,000 Current liabilities: Accounts and notes payable (short-term) $348,000 $364,000 Accrued liabilities 252,000 156,000 Total current liabilities $600,000 $520,000 a. Determine for each year (1) the working capital, (2)...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $336,300 $244,800 Marketable securities 389,400 275,400 Accounts and notes receivable (net) 159,300 91,800 Inventories 739,900 466,600 Prepaid expenses 381,100 298,400 Total current assets $2,006,000 $1,377,000 Current liabilities: Accounts and notes payable (short-term) $342,200 $357,000 Accrued liabilities 247,800 153,000 Total current liabilities $590,000 $510,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $593,600 $496,000 Marketable securities 687,300 558,000 Accounts and notes receivable (net) 281,100 186,000 Inventories 796,600 567,300 Prepaid expenses 410,400 362,700 Total current assets $2,769,000 $2,170,000 Current liabilities: Accounts and notes payable (short-term) $411,800 $434,000 Accrued liabilities 298,200 186,000 Total current liabilities $710,000 $620,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $313,500 $230,400 Marketable securities 363,000 259,200 Accounts and notes receivable (net) 148,500 86,400 Inventories 617,100 409,900 Prepaid expenses 317,900 262,100 Total current assets $1,750,000 $1,248,000 Current liabilities: Accounts and notes payable (short-term) $319,000 $336,000 Accrued liabilities 231,000 144,000 Total current liabilities $550,000 $480,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $433,200 $353,600 Marketable securities 501,600 397,800 Accounts and notes receivable (net) 205,200 132,600 Inventories 752,400 444,100 Prepaid expenses 387,600 283,900 Total current assets $2,280,000 $1,612,000 Current liabilities: Accounts and notes payable (short-term) $348,000 $364,000 Accrued liabilities 252,000 156,000 Total current liabilities $600,000 $520,000 a. Determine for each year (1) the...