47) Extracts from the balance sheet of Atlantis Inc. are as follows:
2015
Assets
Current Assets:
Cash and Cash Equivalents$30,000
Accounts Receivable, Net65,000
Merchandise Inventory50,000
Total Current Assets$145,000
Long-term Investments150,000
Property, Plant, and Equipment, Net250,000
Total Assets$545,000
Total Current Liabilities$150,000
Compute the quick ratio.
48) From the following details provided by Trinidad Inc. Calculate the Merchandise Inventory turnover ratio for the year 2015.
20152014
Cost of Goods Sold585,000475,000
Merchandise Inventory320,000295,000
49) The balance sheet of Atlantis Inc. is below:
Atlantis Inc.
Comparative Balance Sheet
December 31, 2016 and 2015
20162015
Assets
Total Current Assets$200,000$100,000
Property, Plant, and Equipment, Net550,000500,000
Other Assets50,00050,000
Total Assets$800,000$650,000
Liabilities
Total Current Liabilities$150,000$100,000
Long-term Debt350,000250,000
Total Liabilities500,000350,000
Stockholders' Equity
Total Stockholders' Equity300,000300,000
Total Liabilities and Stockholders' Equity$800,000$650,000
Calculate working capital for both years.
