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2R Designs Has Accounts Receivable of $4,100, Cash of $3,500

Question 26

Essay

2R Designs has accounts receivable of $4,100, cash of $3,500, property, plant, and equipment of $30,200, merchandise inventory of $2,200, accounts payable of $5,700, other accrued liabilities of $1,300, common stock of $10,000, and retained earnings of $23,000.
Required:
Calculate 2R Designs' working capital and current ratio.

Correct Answer:

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$3,500 cash + $4,100 accounts receivable...

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