Kershaw Corporation had the following list of items from its balance sheet in alphabetical order for year 2021 and 2022 31st DECEMBER 2022 31ST DECEMBER 2021 $115215 97305 Accounts payable Accounts receivable Cash Income tax payable Inventory Marketable securities Prepaid expenses Salaries payable $125607 61809 26663 10066 114155 44711 43300 44254 31926 16257 97362 11154 23325 35424 During 2022, net credit sales and cost of goods sold were $663916 and $350880, respectively Net cash provided by operating activities for 2022 was $142600 Compute the CURRENT RATIO for 2022

Kershaw Corporation had the following list of items from its balance sheet in alphabetical order for year 2021 and 2022 31st DECEMBER 2022 31ST DECEMBER 2021 $115215 97305 Accounts payable Accounts receivable Cash Income tax payable Inventory Marketable securities Prepaid expenses Salaries payable $125607 61809 26663 10066 114155 44711 43300 44254 31926 16257 97362 11154 23325 35424 During 2022, net credit sales and cost of goods sold were $663916 and $350880, respectively Net cash provided by operating activities for 2022 was $142600 Compute the CURRENT RATIO for 2022

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2RE: Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.

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