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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
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
Total Long-Term Liabilities
Total Liabilities
243,000
271,000
Stockholders' Equity
Common Stock ($1 par)
110,000
Retained Earnings
406,500
343,700
Total Stockholders' Equity
516,500
453,700
Total Liabilities and Stockholders' Equity
Calculate the current ratio for 2013 and 2012.
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