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What is fisher investment in current assets

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Reference no: EM133164608

Question - The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows:

December 31, Year 1(in Thousands of Dollars)



Assets

Cash

$4,160

Marketable securities

2,700

Accounts receivable

28,740

Inventories

43,975

Plant and equipment

$58,900

Less: Accumulated depreciation

18,000

Net plant and equipment

40,900

Total assets

$120,475

Liabilities and Stockholders' Equity

Accounts payable

$10,546

Current portion of long-term debt

3,000

Accrued wages

1,500

Accrued taxes

4,500

Other current liabilities

2,700

Long-term debt

38,000

Common stock ($10 par)

18,000

Capital contributed in excess of par

14,200

Retained earnings

28,029

Total liabilities and stockholders' equity

$120,475

Required -

What is Fisher's investment in current assets?

Determine Fisher's working capital investment.

Determine Fisher's current ratio. Round your answer to two decimal places.

Determine Fisher's return on stockholders' equity if its Year 1 earnings after tax are $11,000(000).

Reference no: EM133164608

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