HCS 380 Seek Your Dream /uophelp.com HCS 380 Seek Your Dream /uophelp.com | Page 16

$ 17,300. Compute the following ratios at December 31, 2014.
Exercise 13-13 Your answer is partially correct.
The condensed financial statements of Elliott Company for the years
2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31( in thousands)
2014
2013
Current assets Cash and cash equivalents
$ 330
$ 360
Accounts receivable( net)
545
475
Inventory
640
570
Prepaid expenses
130
160
Total current assets
1,645 1,565
Property, plant, and equipment( net)
410
380
Investments
85
85
Intangibles and other assets
530
510
Total assets
$ 2,670 $ 2,540
Current liabilities
$ 895
$ 865
Long-term liabilities
660
560
Stockholders’ equity— common
1,115 1,115
Total liabilities
and stockholders’
$ 2,670 $ 2,540
equity