Current assets and current liabilities for Brimstone Company follow: 20Y4 20Y3 Current assets $1,529,000 $1,128,750 Current liabilities 695,000 525,000 a. Determine the working capital and current ratio for 20Y4 and 20Y3. Round Current ratio to 2 decimal places. 20Y4 20Y3 Working capital $ $ Current ratio b. Does the change in the current ratio from 20Y3 to 20Y4 indicate a favorable or an unfavorable change?

Current assets and current liabilities for Brimstone Company follow: 20Y4 20Y3 Current assets $1,529,000 $1,128,750 Current liabilities 695,000 525,000 a. Determine the working capital and current ratio for 20Y4 and 20Y3. Round Current ratio to 2 decimal places. 20Y4 20Y3 Working capital $ $ Current ratio b. Does the change in the current ratio from 20Y3 to 20Y4 indicate a favorable or an unfavorable change?

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Description: Working capital and current ratioCurrent assets and current liabilities for Brimstone Company follow: 20Y4 20Y3 Current assets $1,529,000 $1,128,750 Current liabilities 695,000 525,000 a. Determine the working capital and current ratio for 20Y4 an

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.3.1P: Effect of transactions on current position analysis Data pertaining to the current position of...

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