Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved 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?

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%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Financial Management Concise

Authors: Eugene F. Brigham, Joel F. Houston

11th Edition

0357517717, 9780357517710

More Books

Students also viewed these Finance questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago