The following amounts were reported on the December 31, 2022, balance sheet: ...
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Accounting
The following amounts were reported on the December 31, 2022, balance sheet:
| Cash | $ 48,000 |
|---|---|
| Accounts receivable | 132,000 |
| Common stock | 240,000 |
| Wages payable | 30,000 |
| Retained earnings | 480,000 |
| Land | 120,000 |
| Accounts payable | 13,200 |
| Bonds payable | 704,640 |
| Merchandise inventory | 87,840 |
| Buildings and equipment, net of accumulated depreciation | 1,080,000 |
Required:
Calculate working capital at December 31, 2022.
Calculate the current ratio at December 31, 2022.
Note: Round your answer to 1 decimal place.
Calculate the acid-test ratio at December 31, 2022.
Note: Round your answer to 1 decimal place.
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