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Hi, I'm trying to figure out the Current Ratio. I keep getting .65, but feel that might be wrong. Can you verify the correct answer?
Hi, I'm trying to figure out the Current Ratio. I keep getting .65, but feel that might be wrong. Can you verify the correct answer?
The following table presents the data for CanDo Inc. in as of December 31, 2015:
Accounts payable-$205,000
Accounts receivable-$108,000
Cash and cash equivalents-$133,000
CoGS-$219,200
Common stock-$1,231,000
Depreciation-$42,000
Dividend payout ratio-40%
Interest paid-$66,600
Inventory-$151,000
Long-term debt-$1,332,000
Net fixed assets-$2,931,000
Sales-$406,000
Short-term debt-$400,753
Tax rate-31%
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