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Homework answers / question archive / Mehring's 2011 financial statements contained the following data (in millions)

Mehring's 2011 financial statements contained the following data (in millions)

Accounting

Mehring's 2011 financial statements contained the following data (in millions).

 

Current assets                   $16,890                 Accounts receivable                              $1,550

Total assets                         42,430                 Interest expense                                         980

Current liabilities                  15,160                 Income tax expense                                1,270

Total liabilities                      32,580                 Net income                                              2,230

Cash                                         380

 

Instructions

Compute these values:

(a)   Working capital.                           (b)     Current ratio.

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