Determine the working capital for the company compute the, Financial Management

Determine the working capital for the company compute the

The financial data below for Billingsley Enterprises in 2020. (hints: Internet Resources, Discussion Board)

Category Dollar Amount

Cash $400,000

Accounts receivable 700,000

Inventories 840,000

Prepaid expenses 24,000

Accounts payable 1,300,000

Long-term liabilities 360,000

1. Determine the working capital for the company.

A. $400,000 B. $280,000 C. $190,000 D. $640,000

2. Compute the current ratio from the financial data provided.

A. 0.97 B. 1.49 C.0.86 D. 1.17

3. What is the acid-test ratio for the company in 2020?

A. 0.66 B. 0.88 C. 0.99 D. 0.85

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