Country Outfilter's 2017 financial statements contained the following data (in millions). $$\begin{array} { l r l r }
\text { Current assets } & \$ 16,890 & \text { Accounts receivable } & \$ 1,550 \
\text { Total assets } & 42,430 & \text { Interest expense } & 980 \
\text { Current liabilities } & 12,000 & \text { Income tax expense } & 1,270 \
\text { Total liabilities } & 32,580 & \text { Net income } & 2,230 \
\text { Cash } & 380 & &
\end{array}$$ Instructions
Compute these values:
(a) Working capital. (b) Current ratio.

Question

Country Outfilter's 2017 financial statements contained the following data (in millions). $$\begin{array} { l r l r } 
\text { Current assets } & \$ 16,890 & \text { Accounts receivable } & \$ 1,550 \
\text { Total assets } & 42,430 & \text { Interest expense } & 980 \
\text { Current liabilities } & 12,000 & \text { Income tax expense } & 1,270 \
\text { Total liabilities } & 32,580 & \text { Net income } & 2,230 \
\text { Cash } & 380 & &
\end{array}$$ Instructions
Compute these values:
(a) Working capital. (b) Current ratio.

Quizplus · Accepted Answer

The Answer of Country Outfilter's 2017 financial statements contained the following data (in millions). $$\begin{array} { l r l r } 
\text { Current assets } & \$ 16,890 & \text { Accounts receivable } & \$ 1,550 \
\text { Total assets } & 42,430 & \text { Interest expense } & 980 \
\text { Current liabilities } & 12,000 & \text { Income tax expense } & 1,270 \
\text { Total liabilities } & 32,580 & \text { Net income } & 2,230 \
\text { Cash } & 380 & &
\end{array}$$ Instructions
Compute these values:
(a) Working capital. (b) Current ratio.

Country Outfilter's 2017 Financial Statements Contained the Following Data (In