Homework Answers
Answer-a)- Working capital =Current assets- Current liabilities
= ($18000+$49500+$61140)-($11250+$28950)
= $128640-$40200
= $88440
b)- Current Ratio=Current Assets/ Current Liabilities
= $128640/$40200
= 3.2 times
c)- Acid-test (Quick ratio):- Current assets-Inventory-Prepaid expenses/Current Liabilities
= ($128640-$61140-0)/$40200
= $67500/$40200
= 1.7 times
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