Financial Statements

Instructions:

• Read the problemn and complete all the questions included below.
• Submit your answers on a Word (.doc) or Excel (.xls) document. Handwritten submittals will not be accepted.
• Check the Rubric

As a consultant for Acme Engineering you have been able to establish the following parameters from their Financial Statements:

Item

Amount

Cash

$200,000

Securities

$90,000

Accounts Receivable

$300,000

Inventories

$400,000

Prepaid Expenses

$16,000

Accounts Payable

$630,000

Other Liabilities

$180,000

Calculate the following parameters:

• Total Assets
• Total Liabilities
• Working Capital
• Current Ratio
• Acid Test Ratio