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The Financial statements of Victor's Natural Foods include the following item: 84 days Current Year Preceding Year Balance sheet:

This question was answered on Jul 19, 2016. View the Answer

The Financial statements of Victor's Natural Foods include the following item:

e. 84 days

Current Year Preceding Year

Balance sheet:

Cash 15,000 20,000

Short-term Investments 11,000 27,000

Net Accounts Receivables 54,000 73,000

Merchandise Inventory 77,000 69,000

Prepaid Expenses 15,000 9,000

Total Current Assets 172,000 198,000

Total Current Liabilities 133,000 93,000

Income Statement:

Net Credit Sales 462,000

Cost of Goods Sold 315,000


Top Answer

Answer for point a: Current ratio =Current assets/Current liabilites Current assets = $172,000 / $133,000 =1.29 Answer for... View the full answer

This question was asked on Jul 19, 2016 and answered on Jul 19, 2016.

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