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Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 107 $ 137 Accounts receivable, net 134
Excerpts from Colter Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | |
---|---|---|
Current assets: | ||
Cash | $ 107 | $ 137 |
Accounts receivable, net | 134 | 144 |
Inventory | 221 | 211 |
Prepaid expenses | 57 | 57 |
Total current assets | 519 | 549 |
Total current liabilities | $ 388 | $ 375 |
Sales on account in Year 2 amounted to $1,635 and the cost of goods sold was $975.
The current ratio at the end of Year 2 is closest to:
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