Problem -
|
ORLANDO, INC.
Comparative Balance Sheet
December 31, 2013 and 2012
|
|
2013
|
2012
|
|
Assets
|
|
|
|
Current Assets
|
|
|
|
Cash
|
154,500
|
151,000
|
|
Accounts Receivable (Net)
|
180,500
|
166,000
|
|
Inventory
|
106,500
|
81,000
|
|
Total Current Assets
|
441,500
|
398,000
|
|
Property, Plant, and Equipment
|
|
|
|
Buildings (Net)
|
181,000
|
186,500
|
|
Equipment (Net)
|
76,000
|
79,200
|
|
Land
|
61,000
|
61,000
|
|
Total Property, Plant, and Equipment
|
318,000
|
326,700
|
|
Total Assets
|
759,500
|
724,700
|
|
Liabilities and Stockholders' Equity
|
|
|
|
Current Liabilities
|
|
|
|
Accounts Payable
|
131,000
|
151,500
|
|
Other Current Liabilities
|
21,000
|
28,500
|
|
Total Current Liabilities
|
152,000
|
180,000
|
|
Long-Term Liabilities
|
|
|
|
Bonds Payable
|
91,000
|
91,000
|
|
Total Long-Term Liabilities
|
91,000
|
91,000
|
|
Total Liabilities
|
243,000
|
271,000
|
|
Stockholders' Equity
|
|
|
|
Common Stock ($1 par)
|
110,000
|
110,000
|
|
Retained Earnings
|
406,500
|
343,700
|
|
Total Stockholders' Equity
|
516,500
|
453,700
|
|
Total Liabilities and Stockholders' Equity
|
759,500
|
724,700
|
Calculate the current ratio for 2013 and 2012.