The Core Company had the following assets and liabilities as of December 31: Assets Cash $58,000 Accounts receivable 25,000 Inventory 20,000 Equipment 50,000 Liabilities Current portion of long-term debt $20,000 Accounts payable 12,000 Long-term debt 25,000 Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place. Current Ratio Working Capital Quick Ratio

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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The Core Company had the following assets and liabilities as of December 31:
Assets
Cash
$58,000
Accounts receivable
25,000
Inventory
20,000
Equipment
50,000
Liabilities
Current portion of long-term debt
$20,000
Accounts payable
12,000
Long-term debt
25,000
Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place.
Current Ratio
Working Capital
$
Quick Ratio
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Transcribed Image Text:The Core Company had the following assets and liabilities as of December 31: Assets Cash $58,000 Accounts receivable 25,000 Inventory 20,000 Equipment 50,000 Liabilities Current portion of long-term debt $20,000 Accounts payable 12,000 Long-term debt 25,000 Calculate the current ratio, working capital, and quick ratio. If required, round your answers to one decimal place. Current Ratio Working Capital $ Quick Ratio Previous Next
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