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The Fisher Apparel Company balance sheet for the year ended 2010 is as follows:
December 31, 2010
(in Thousands of Dollars)
Assets
Cash
$ 3,810
Marketable securities
2,700
Accounts receivable
27,480
Inventories
41,295
Plant and equipment
$64,650
Less Accumulated depreciation
17,100
Net plant and equipment
47,550
Total assets
$122,835
Liabilities and Stockholders' Equity
Accounts payable
$ 14,582
Current portion of long-term debt
3,000
Accrued wages
1,200
Accrued taxes
3,600
Other current liabilities
2,200
Long-term debt
33,000
Common stock ($10 par)
19,500
Capital contributed in excess of par
15,000
Retained earnings
30,753
Total liabilities and stockholders' equity
a. What is Fisher's investment in current assets?
b. Determine Fisher's working capital investment.
c. Determine Fisher's current ratio.
d. Determine Fisher's return on stockholders' equity if its 2010 earnings after tax are $10,000(000).
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