Need help with this quick!
Question 7
Acme Auto Supplies listed the following accounts on their December 31 2007
Cash $60000
Prepaid Insurance $40000
Accounts Receivable $50000
Inventory $70000
Land held for investment $80000
Land $95000
Building $100000
Less: Accumulated Depreciation <$30000>
( Trademark $70000
)Accounts Payable $65000
Salaries Payable $10000
Mortgage Payable $90000
Common Stock $120000
Retained Earnings $250000
The current ratio is
2.93:1.
1.86:1.
3.38:1.
2.00:1. *** i think this one?? and this question
The total amount of working capital is
$155000.
$60000.
$150000.
$145000