The financial statements for Highland Corporation included the following selected information: Common stock $ 1,600,000 Retained
earnings $ 900,000 Net income $ 1,000,000 Shares issued 90,000 Shares outstanding 80,000 Dividends declared and paid $ 800,000 The common stock was sold at a price of $30 per share. What is the amount o f additional paid-in capital?
What was the amount of retained earnings at the beginning of the year?
How many shares are in treasury stock?
What was the amount of retained earnings at the beginning of the year?
How many shares are in treasury stock?
1 answer:
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Hello there!
Answer:
The working capital ratio would be 2.38:1
Explanation:
To find the working capital ratio of a company, we would need to get the total assets and liabilities and divide them.
Assets:
You would have $285,000 in total assets
Liabilities:
You would have $120,000 in total liabilities.
Now, we would divide 285,000 by 120,000 in order to get your ratio.
Lets solve:
If you need to round, you would round the 5 over to the 7 to turn it to 8.
Your ratio would be 2.38:1
2.38:1 would be the CORRECT answer.