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Working Capital and Current Ratio
The balance sheet of Kapinski Inc. includes the following items:
Cash
$23,000
Accounts payable
$ 84,900
Accounts receivable
43,000
Salaries payable
3,200
Inventory
75,000
Capital stock
100,000
Prepaid insurance
2,800
Retained earnings
35,700
Land
80,000
Required
1. Determine the current ratio and working capital.
2. Kapinski appears to have a positive current ratio and a large net working capital. Why would it have trouble paying bills as they come due?
3. Suggest three things that Kapinski can do to help pay its bills on time.
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