Chapter 15.III, Problem 4RE

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Chapter
Section

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the amount of working capital and the current ratio for the following companies. Round ratios to the nearest hundredth. Current Current Working Current Company Assets Liabilities Capital Ratio 4. Forget-Me-Not Flowers $3,600$1,250 ______ ________

To determine

To calculate: The amount of working capital and the current ratio of the company Forget-Me-Not flowers Inc. which has current assets of $3,600 and current liabilities of$1,250. Round the ratios to the nearest hundredth.

Explanation

Given Information:

The company Forget-Me-Not flowers Inc. has current assets of $3,600 and current liabilities$1,250.

Formula used:

The formula for the working capital is,

Working capital=Current AssetsCurrent liabilities

The formula for the current ratio is,

Current ratio=Current assetsCurrent liabilities

Calculation:

Consider that the company Forget-Me-Not flowers Inc. has current assets of $3,600 and current liabilities of$1,250.

Compute the working capital by substituting $3,600 for current assets, and$1,250 for current liabilities in the formula, “Working capital=Current AssetsCurrent liabilities

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