The balance sheet of Hart Co. contained the following items, among other;Cash.....$150,000;Accounts Receivable...65,000;Inventory...100,000;Store Eq(net)...200,000;Other Assets...50,000;Mortgage Payable(due in 3years)...140,000;Note Payable(due in 10 days)...135,000;Accounts payable...75,000;Capital Stock...50,000;Retained Earnings...165,000;A)From the above information compute;1)Current Assets:$;2)Current Liabilities$;3)The current ratio$___________to 1;4)Working Capital$;B)Assume that Hart Co. pays the note payable of $135,000, thus reducing cash to $15,000. Compute the following after the completion of this transaction;1)The current ration$______________to 1;2)Working Capital$
Calculating Working Capital
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