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A firm has the following balance sheet as June 1, 2022. What is its current ratio? Cash $25,000 Short Term Investments $25,000 Accounts Receivable $30,000

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A firm has the following balance sheet as June 1, 2022. What is its current ratio? Cash $25,000 Short Term Investments $25,000 Accounts Receivable $30,000 Inventory $50,000 Property, Plant, and Equipment $100,000 Total Assets $230,000 Accounts Payable $15,000 Deferred Revenue $15,000 Short Term Debt $10,000 Current Portion of Long Term Bonds Payable $25,000 Long Term Bonds Payable $55,000 Common Stock, Par $1,000 Common Stock, Paid in Capital $84,000 Retained Earnings $25,000 Total Liabilities and Equity $170,000

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