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partan Sportswear current assets consist of cash, marketable securities , accounts receivable , and inventories . The following data were abstracted from a recent financial statement:   Inventories.  $ 220,000 Total assets.  $ 740,000 Current ration.    2.75 Acid -test ratio.    1.5 Debt to equity ratio.  1.4   Compute the following: a) current assets b) shareholders equity c) long term assets d) long term liabilities.

partan Sportswear current assets consist of cash, marketable securities , accounts receivable , and inventories . The following data were abstracted from a recent financial statement:   Inventories.  $ 220,000 Total assets.  $ 740,000 Current ration.    2.75 Acid -test ratio.    1.5 Debt to equity ratio.  1.4   Compute the following: a) current assets b) shareholders equity c) long term assets d) long term liabilities.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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Spartan Sportswear current assets consist of cash, marketable securities , accounts receivable , and inventories . The following data were abstracted from a recent financial statement:

 

Inventories.  $ 220,000

Total assets.  $ 740,000

Current ration.    2.75

Acid -test ratio.    1.5

Debt to equity ratio.  1.4

 

Compute the following:

a) current assets

b) shareholders equity

c) long term assets

d) long term liabilities.

 

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