ch5 quiz - MellancampMoorings,Inc BalanceSheet...

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Mellancamp Moorings, Inc.         Balance Sheet               12/31/2007 *in millions Current Assets Cash and cash equivalents  $52,000.00  Trading Securities  $225,000.00  Accounts Recievable  $328,500.00  Allowance for doubtful accounts  $26,500.00   $302,000.00  Inventory Raw Materials  $74,000.00  Work in Process  $110,000.00  Finshed Goods  $89,800.00  Total  inventories  $273,800.00  Total Current Assets  $852,800.00  Held to maturity securities  $300,000.00  Property, Plant and Equipment Buildings  $683,200.00  Equipment  $1,200,000.00  Land  $750,000.00   $2,633,200.00  Accumulated Depreciation  $(567,000.00) Net Property, Plant, and Equipment  $2,066,200.00  Goodwill and other intangible assets Goodwill  $250,000.00  Patents(net of $20,000 amortization)  $120,000.00  Net Goodwill and other intangible assests  $370,000.00  Total Assests  $3,589,000.00 
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a) 17% This is good because its basically saying that the company can pay back its obligations in a short a Anything under 1% means that they are at risk of bankruptcy.
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