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Hardister Corp. Hardister Corp. has the following information available from its financial statements for 2012: Balance sheet information: Income statement information: Assets Current assets $
Hardister Corp. Hardister Corp. has the following information available from its financial statements for 2012:
Balance sheet information: | Income statement information: | ||||
Assets | |||||
Current assets | $ 400,000 | Sales (all on account) | $3,000,000 | ||
Long-term assets | 600,000 | Cost of goods sold | 1,500,000 | ||
Total assets | $1,000,000 | Salary expense | 200,000 | ||
Miscellaneous expenses | 400,000 | ||||
Liabilities | Interest expense | 100,000 | |||
Current liabilities | $ 200,000 | Income before taxes | $ 800,000 | ||
Long-term liabilities | 100,000 | Income tax expense | 300,000 | ||
Total liabilities | $ 300,000 | Net income | $ 500,000 | ||
Stockholders' Equity | |||||
Capital stock | $ 300,000 | ||||
Retained earnings | 400,000 | ||||
Total Stockholders' Equity | $ 700,000 | ||||
Refer to the Hardister Corp. information above. Hardister's current ratio is: (round to two decimal places)
Select one:
a. 3.33.
b. .67.
c. .50.
d. 2.00.
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