(Answered) Problem - givenaccounts payable 30000accounts receivable

Accounting

Problem - Given

Accounts payable $ 30,000

Accounts receivable 65,000

Accrued liabilities 7,000

Cash 20,000

Intangible assets 40,000

Inventory 72,000

Long-term investments 100,000

Long-term liabilities 75,000

Marketable securities 36,000

Notes payable (short-term) 20,000

Property, plant, and equipment 625,000

Prepaid expenses 2,000

Required -

1. Based on the above data, what is the amount of working capital?

a. $238,000

b. $138,000

c. $178,000

d. $64,000

2. Based on the above data, what is the quick ratio, rounded to one decimal point?

a. 2.4

b. 3.4

c. 2.1

d. 1.5

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