Reference no: EM132628087
Question - How do find the working capital, current ratio, acid-test ratio, debt to equity ratio, times interest earned ratio, and average collection period?
Castile Products, Inc. Balance Sheet December 31 Assets Current assets:
Cash $20,000
Accounts receivable, net 180,000
Merchandise inventory 360,000
Prepaid expenses 6,000
Total current assets 566,000
Property and equipment, net 820,000
Total assets $1,386,000
Liabilities and Stockholders' Equity
Liabilities: Current liabilities $300,000
Bonds payable, 10% 380,000
Total liabilities 680,000
Stockholders' equity:
Common stock, $10 par value $130,000
Retained earnings 576,000
Total stockholders' equity 706,000
Total liabilities and stockholders' equity $1,386,000
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