The Core Company Had the Following Assets and Liabilities as of December

question 43

Essay

The Core Company had the following assets and liabilities as of December 31:
​ $\begin{array}{|c|c|}\hline{\text { ASSETS }} & \\\hline \text { Cash } & \$ 58,000 \\\hline \text { Accounts receivable } & 25,000 \\\hline \text { Inventory } & 20,000 \\\hline \text { Equipment } & 50,000 \\\hline\\\hline {\text { LIABILITIES }} & \\\hline \text { Current portion of long-term debt } &20,000 \\\hline \text { Accounts payable } &12,000 \\\hline \text { Long-term debt } & 25,000 \\\hline\end{array}$ ​
Calculate the current ratio, working capital, and quick ratio. Round ratios to one decimal place.

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Definitions:

Illusory Correlation

The perception of a relationship where none exists.

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The planned and structured periods dedicated to the study and exploration of outer space.

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