Solution-What was its 2010 net income

What was its 2010 net income

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Reference no: EM13508251

If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income?

PERKINS INC.
Balance Sheet (partial)
Cash	8,041,000
Short-term investments	4,947,000
Accounts receivable	12,545,000
Inventories	14,814,000
Other current assets	5,571,000
Total current assets	45,918,000
Total current liabilities	40,644,000

What are the (a) working capital, (b) current ratio, and (c) acid-test ratio? (Round ratios to 2 decimal places, e.g. 10.50.)

Reference no: EM13508251

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What was its 2010 net income

Reference no: EM13508251

Reference no: EM13508251

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