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Use ratios to analyze a company's liquidity and solvency.
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1 Condensed financial statements for Games Galore are summarized below: 3 Balance Sheet 4 Cash 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 8 Total Current Assets 9 Property and Equipment, Net 10 Total Assets 2016 2015 S 185,000 143,000 59,000 134,000 5,880 341,880 407,000 $ 895,400 748,880 80,000 104,000 11,900 380,900 514,500 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equit 19 $85,300 96,800 224,000 320,800 299,000 129,080 428,080 $895,400 748,880 284,000 369,300 299,000 227,100 526,100
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