Assets: Cash Accounts receivable Inventory Net fixed assets Total assets Liabilities and owners' equity: Accounts payable ST Notes payable Long-term debt Owners' Equity Total liabilities and owner's equity Balance Sheet B.2.37 and 1.27. OC.2.18 and 1.39. O D.2.18 and 1.27. O E. None of the above. $250,000 450,000 500,000 2,100,000 $3,300,000 $100,000 450,000 1,050,000 1,700,000 $3,300,000 Income Statement Sales (all credit) 7 Cost of goods sold Operating expense Interest expense Income taxes Net income $8,000,000 (4,000,000) (2,900,000) (150,000) (380,000) $570,000 Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively, OA. 2.37 and 1.39.

Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively, A. 2.37 and 1.39 8. 2.37 and 1.27 . C. 2.18 and 1.39 . D. 2.18 and 1.27 E. None of the above