Homework Answers
Part a)
Current ratio = current assets ÷ current liabilities
= $ 74800 ÷ 34000
= 2.2 : 1
Working capital = current assets - current liabilities
= 74800 - 34000
= $ 40800
Part b)
Current ratio = current assets ÷ current liabilities
= (74800-22000) ÷ (34000 - 22000)
= 4.4 : 1
Working capital = current assets- current liabilities
= (74800-22000)-(34000-22000)
= $ 40800
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