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Sheridan Company has current assets of $74000, current liabilities of $100000, long-term assets of $176000 and long-term liabilities of $79000. Sheridan Company's working capital and its current ratio are:

Respuesta :

Answer:

Current ratio = 0.74 : 1

Working Capital  = ($26,000)

Explanation:

Given:

Current assets = $74,000

Current liabilities = $100,000

Find:

Working Capital

Current ratio

Computation:

Working Capital = CA - CL

Working Capital = $74,000 - $100,000

Working Capital  = ($26,000)

Current ratio = [CA / CL]

Current ratio = [$74,000 / $100,000]

Current ratio = 0.74 : 1