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Calculate the Current Ratio using the following facts: Gross farm income (revenues): $600,000 Assets Liabilities Current assets $ 200,000 Current liabilities $ 50,000 Noncurrent assets

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Calculate the Current Ratio using the following facts: Gross farm income (revenues): $600,000 Assets Liabilities Current assets $ 200,000 Current liabilities $ 50,000 Noncurrent assets 2,000,000 Noncurrent liabilities 700,000 Total liabilities 750,000 Total assets $2,200,000 Net worth (owner equity) 1,450,000

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