The following items are taken from the financial statements of Maxon Service for 2013: Instructions
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:
1. Current ratio
2. Working capital
3. Acid-test ratio
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:

Question

The following items are taken from the financial statements of Maxon Service for 2013:  Instructions
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:
1. Current ratio
2. Working capital
3. Acid-test ratio 
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:

Quizplus · Accepted Answer

The Answer of The following items are taken from the financial statements of Maxon Service for 2013:  Instructions
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:
1. Current ratio
2. Working capital
3. Acid-test ratio 
a. Prepare an income statement and a classified balance sheet for Maxon Sales.
b. Calculate the following ratios and values:

The Following Items Are Taken from the Financial Statements of Maxon