A firm had on its balance sheet the following items: Cash $0.75 million, Accounts Receivable $2.25 million, Inventories $3.00 million, Fixed Assets $4.00 million, Owner’s Equity $4.50 million, Accounts Payable $2.00 million, Long-Term Debt $2.00 million and Accrued Liabilities $1.50 million. The company’s Working Capital Ratio (Current Ratio) was:
a. .86
b. 1.7
c. 3
d. 1.1
A firm had on its balance sheet the following items
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