These selected condensed data are taken from a recent balance sheet of Carla Vista Co. (in millions of dollars). Cash $7.7 Accounts receivable 14.7 Inventory 22.0 Other current assets 11.6 Total current liabilities $25.0. Compute working capital and the current ratio.

$31 million; 2.24

Explanation:

Given that,

Cash = $7.7 million

Accounts receivable = $14.7 million

Inventory = $22 million

Other current assets = $11.6 million

Total current liabilities = $25 million

Total current assets:

= Cash + Accounts receivable + Inventory + other current assets

= $7.7 + $14.7 + $22 + $11.6

= $56 million

Working capital:

= Total Current Assets - Current Liabilities

= $56  - $25

= $31

Current ratio:

= Current Assets ÷ Current Liabilities

= $56 ÷ $25

= 2.24

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explanation:

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