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Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Win's Companies' current ratio Then enter the amounts and calcuate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio

Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Win's Companies' current ratio Then enter the amounts and calcuate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Win's Companies, a home improvement store chain, reported the following summanzed figures E (Click the icon to view the income statement.) E (Click the icon to view the balance sheets.) Win's has 20,000 common shares outstanding during 2018. Read the requirements Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017 Begin by selecting the formula to calculate Win's Companies' current ratio. Then enter the amounts and calcu ale the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio (i Balance Sheets Income Statement Win's Companies Win's Companies Balance Sheet Income Statement May 31, 2018 and 2017 Years Ended May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 2018 2017 Net Sales Revenue 24 57 200 $ 39,800 Cash $. 2.300 $ 1300 Total Current Liabilities 22,000 $ 12,900 Cost of Goods Sold 22.500 25,500 12,200 11,300 Short-term Invesiments 29 000 13.000 Long-term Liabilities Interest Expense 500 320 Accounts Receivable 7,300 5.400 Total Liabilities 34,200 24,200 5,800 6,500 All Other Expenses Merchandise Inventory 7000 Stockholders' Equity 5.900 $4 28,400 $ 7,480 Net Income Other CurrentAssets 9,000 1800 Common Stock 8,000 8,000 40,400 18,200 27.400 Retained Earnings 23,000 Total Equity Total Current Assets 54,600 Print Done 28,000 48,400 26,200 All Other Asséts 24 82,600 $ 50,400 82,600 $ 50,400 Total Assets Total Liabilities and Equity Print Done Choose from any drop-down list and then click Check Answer. 2 parts Clear All
Transcribed Image Text:Win's Companies, a home improvement store chain, reported the following summanzed figures E (Click the icon to view the income statement.) E (Click the icon to view the balance sheets.) Win's has 20,000 common shares outstanding during 2018. Read the requirements Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017 Begin by selecting the formula to calculate Win's Companies' current ratio. Then enter the amounts and calcu ale the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio (i Balance Sheets Income Statement Win's Companies Win's Companies Balance Sheet Income Statement May 31, 2018 and 2017 Years Ended May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 2018 2017 Net Sales Revenue 24 57 200 $ 39,800 Cash $. 2.300 $ 1300 Total Current Liabilities 22,000 $ 12,900 Cost of Goods Sold 22.500 25,500 12,200 11,300 Short-term Invesiments 29 000 13.000 Long-term Liabilities Interest Expense 500 320 Accounts Receivable 7,300 5.400 Total Liabilities 34,200 24,200 5,800 6,500 All Other Expenses Merchandise Inventory 7000 Stockholders' Equity 5.900 $4 28,400 $ 7,480 Net Income Other CurrentAssets 9,000 1800 Common Stock 8,000 8,000 40,400 18,200 27.400 Retained Earnings 23,000 Total Equity Total Current Assets 54,600 Print Done 28,000 48,400 26,200 All Other Asséts 24 82,600 $ 50,400 82,600 $ 50,400 Total Assets Total Liabilities and Equity Print Done Choose from any drop-down list and then click Check Answer. 2 parts Clear All
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