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:

Keyboard Defect

A flaw or malfunction in a computer keyboard, which can hinder the user's ability to input data efficiently and accurately.

Corporate Crisis

A significant business problem that threatens the reputation or financial stability of a company, requiring immediate action.

Litigation

The process of resolving disputes between parties through the court system, involving legal proceedings to determine a verdict or settlement.

Issues Management

The proactive process of identifying, evaluating, and responding to potential issues or opportunities that could impact an organization, aiming to prevent them from escalating into crises.