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Compute the current ratio and debt to assets ratio. These financial statement items are for Cullumber Company at year-end, July 31, 2025. Salaries and wages
Compute the current ratio and debt to assets ratio.
These financial statement items are for Cullumber Company at year-end, July 31, 2025. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2028) Common stock Cash Accounts receivable Accumulated depreciationequipment Dividends Depreciation expense Retained earnings (beginning of the year) Your answer is partially correct. $ 3,900 59,100 16,800 17,000 4,100 67,700 9,700 3,300 16,000 35,100 11,300 7,600 4,000 4,000 35,000 Compute the current ratio and debt to assets ratio. (Round answers to I decimal place, e.g. 15.2:1 or 15.2%.) Current ratio Debt to assets ratio 5.8 17.8
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