The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $310,100 359,000 146,900 570,200 293,800 $1,680,000 1. Working capital 2. Current ratio 3. Quick ratio $278,400 201,600 $480,000 $ $252,000 283,500 94,500 358,700 229,300 $1,218,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $294,000 126,000 $420,000

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $310,100 359,000 146,900 570,200 293,800 $1,680,000 1. Working capital 2. Current ratio 3. Quick ratio $278,400 201,600 $480,000 $ $252,000 283,500 94,500 358,700 229,300 $1,218,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $294,000 126,000 $420,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 6E: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal...

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The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio 3. Quick ratio Current Year Current Year $347,700 402,600 164,700 603,900 311,100 $1,830,000 $353,800 256,200 $610,000 Previous Year $254,400 286,200 95,400 420,300 268,700 $1,325,000 Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. $371,000 159,000 $530,000 Previous Year
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