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Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 87,000 Investments 50,000 Plant assets 220,000 Current liabilities
Based on the following information from Schrute Company's balance sheet, calculate the current ratio.
| Current assets | $ | 87,000 |
| Investments | 50,000 | |
| Plant assets | 220,000 | |
| Current liabilities | 39,000 | |
| Long-term liabilities | 90,000 | |
| A. Schrute, Capital | 228,000 | |
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
7th Edition
0912503688, 978-0912503684
