Question - The following data are taken from the balance sheet of Ortiz, Inc. The data are arranged in alphabetical order (in millions).
|
Accounts payable
|
$ 585,790
|
|
Income taxes payable
|
$ 26,050
|
|
Accounts receivable
|
1,669,400
|
|
Other current liabilities
|
556,680
|
|
Cash
|
134,840
|
|
Retained earnings
|
3,180,400
|
Compute the following for Ortiz.
(a) Current ratio
(b) Working capital