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Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 150 $ 120 Accounts receivable, net 310
Data from Dunshee Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | |||||
Current assets: | ||||||
Cash | $ | 150 | $ | 120 | ||
Accounts receivable, net | 310 | 330 | ||||
Inventory | 150 | 170 | ||||
Prepaid expenses | 30 | 30 | ||||
Total current assets | $ | 640 | $ | 650 | ||
Total current liabilities | $ | 310 | $ | 320 | ||
Sales on account in Year 2 amounted to $1,670 and the cost of goods sold was $1,030.
The current ratio at the end of Year 2 is closest to:
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