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Brock Company's financial information is as follows. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales
Brock Company's financial information is as follows. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $43,219 Accounts receivable (net) 30,028 Inventory 33,923 Property, plant, and equipment 241,935 Total assets $349,105 Liabilities and Stockholders' Equity Current liabilities $55,770 Long-term liabilities 88,227 Common stock, $10 par 63,610 Retained earnings 141,498 Total liabilities and stockholders' equity $349,105 Income Statement $89,692 Sales Cost of goods sold (40,361) $49,331 Gross profit (26,812) Operating expenses $22,519 Net income 6,361 of shares of common stock labilities and stockholders' equity $349,105 Income Statement $89,692 (40,361) Sales Cost of goods sold Gross profit Operating expenses Net income Number of shares of common stock Market price of common stock $49,331 (26,812) $22,519 6,361 $31 What is the current ratio? Round your answer to two decimal places. Oa. 0.77 b. 2.22 O c. 0.54 Od. 1.92
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