Question
Choc-Full-of-Nuts Inc. has total current liabilities of $18,750; inventory of $6,400; cash of $10,000; net fixed assets of $5,000; accounts receivable of $4,000; and long-term
Choc-Full-of-Nuts Inc. has total current liabilities of $18,750; inventory of $6,400; cash of $10,000; net fixed assets of $5,000; accounts receivable of $4,000; and long-term debt of $3,000. Calculate the firms current ratio.
-
1.09
-
1.17
-
1.35
-
1.50
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
6th Edition
1260226786, 9781260226782
