SUPERCLEAN CORPORATION
Balance Sheet
December 30, 2027
Current assets
Current liabilities
Cash
$25,000
Accounts payable
$20,000
Accounts receivable
20,000
Salaries and wages payable
20,000
Prepaid insurance
15,000
$40,000
Property, plant, and equipment (net)
210,000
$60,000
Long-term liabilities
90,000
Notes payable
Total assets
$270,000
Total liabilities
130,000
Stockholders' equity
Common stock
100,000
Retained earnings
40,000
Total liabilities and stockholders' equity
$270,000
140,000
(a)
Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 2 decimal places, e.g. 15.22)
Current ratio
Working capital
$