Homework Answers
(a)
Current assets = Accounts receivable + Cash
= 74,000+25,180
= $99,180
Current liabilities = Accounts payable + Other current liabilities + Salaries and wages payable
= 35,000+16,300+5,700
= $57,000
Current ratio = Current assets/ Current liabilities
= 99,180/57,000
= 1.74:1
(b)
Working capital = Current assets - Current liabilities
= 99,180-57,000
= $42,180
(c)
Earning per share = Net income/ Average number of common shares outstanding
= 54,280/46,000
= $1.18
(d)
Debt to assets ratio = Total liabilities/ Total assets
= 171,600/260,000
= 66%
| (a) | Current Ratio | 1.74:1 |
| (b) | Working capital | $42,180 |
| (c) | Earning per share | $1.18 |
| (d) | Debt to assets ratio | 66% |
Kindly comment if you need further assistance. Thanks
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