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What is the amount of working capital

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The following account balances were taken from the end of fiscal year financial statements of Birddog, Inc. for December 31, 2011:

Cash in Bank 10,000 Accounts Payable 18,000
Accounts Receivable 20,000 Federal Income Tax Payable 2,200
Merchandise Inventory 17,800 Dividends Payable (due 2-15-06) 4,400
Prepaid Insurance 2,200 Sales Taxes Payable 400
Long-Term Notes Payable (due 2-1-10) 150,000

For questions 35 through 37, write the correct amount or ratio on your answer sheet. Ratios must be rounded to the nearest tenth and expressed as in this example: 2 to 1.

What is the amount of working capital?

What is the quick ratio?

What is the current ratio?

 

Reference no: EM13509442

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