Your answer is correct. Calculate the current ratio and working capital based on the preliminary...
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Your answer is correct. Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 1 decimal place, e.g. 0.7:1. Current ratio :1 Working capital \$ Liabilities and Stockholders' Equity Current liabilities Accounts payable Salaries and wages payable Long-term liabilities Notes payable Total liabilities Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $18,000 9,000$27,000 99,00072,000 The chief financial officer (CFO) of Flounder Corporation requested that the accounting department prepare a preliminary balance sheet on December 30,2025, so that the CFO could get an idea of how the company stood. He knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2:1. The preliminary balance sheet is as follows. Based on the results in above part, the CFO requested that $18,000 of cash be used to pay off the balance of the Accounts Payable account on December 31, 2025. Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio to 1 decimal place, e.g. 0.7:1.) Current ratio :1 Working capital $
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Your answer is correct. Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 1 decimal place, e.g. 0.7:1. Current ratio :1 Working capital \$ Liabilities and Stockholders' Equity Current liabilities Accounts payable Salaries and wages payable Long-term liabilities Notes payable Total liabilities Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $18,000 9,000$27,000 99,00072,000 The chief financial officer (CFO) of Flounder Corporation requested that the accounting department prepare a preliminary balance sheet on December 30,2025, so that the CFO could get an idea of how the company stood. He knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2:1. The preliminary balance sheet is as follows. Based on the results in above part, the CFO requested that $18,000 of cash be used to pay off the balance of the Accounts Payable account on December 31, 2025. Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio to 1 decimal place, e.g. 0.7:1.) Current ratio :1 Working capital $ 