Problem #1 (Adapted) The following data pertain to Charlie Company for the year ended December 31, 2018: Accounts Payabl

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Problem 1 Adapted The Following Data Pertain To Charlie Company For The Year Ended December 31 2018 Accounts Payabl 1 (30.92 KiB) Viewed 21 times

Problem #1 (Adapted) The following data pertain to Charlie Company for the year ended December 31, 2018: Accounts Payable P35,000 Accounts Receivable 70,000 Accrued liabilities 25,000 Cash 85,000 Inventory 45,000 Net Sales 250,000 Notes Payable (due in 2019) 40,000 Profit 37,500 Trading Securities 50,000 Total Assets 400,000 Total Liabilities 160,000 Required: Compute the following. Show your soluation. A. Current ratio B. Acid test ratio C. Debt ratio D. Return on assets