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Coglin, Inc

Question 223

Essay

Coglin, Inc. incurred a net loss of $20,000 for 2014. The balance sheet at December 31, 2014, for Coglin, Inc., includes the following items:
Coglin, Inc. incurred a net loss of $20,000 for 2014. The balance sheet at December 31, 2014, for Coglin, Inc., includes the following items: A Determine Coglin's current ratio and working capital. B Beyond the information provided in your answers to A, what does the composition of Coglin's current assets tell you about its liquidity. C What other information would one need to fully access Coglin's liquidity? A Determine Coglin's current ratio and working capital.
B Beyond the information provided in your answers to "A," what does the composition of Coglin's
current assets tell you about its liquidity.
C What other information would one need to fully access Coglin's liquidity?

Correct Answer:

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A Current ratio: 1.44 to 1
$23,000 Cash ...

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