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Compute Snow working capital

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Reference no: EM132999764

Question - Current Liabilities and Ratios - Several accounts that appeared on Snow's 2017 balance sheet are as follows:

Accounts Payable $63,000

Equipment $950,000

Marketable Securities 40,000

Taxes Payable 15,000

Accounts Receivable 20,000

Retained Earnings 250,000

Notes Payable, 12%, due in 60 days 20,000

Inventory 165,000

Capital Stock 1,150,000

Allowance for Doubtful Accounts 20,000

Salaries Payable 10,000

Land 600,000

Cash 65,000

Required -

1. Compute Snow's working capital.

2. Compute Snow's current ratio. Round your answer to one decimal place.

Reference no: EM132999764

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