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Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. At
Higgins Company began operations last year. You are a member of the management team investigating expansion ideas
that will require borrowing funds from banks. At the start of the current year, Higgins's Taccount balances were as follows:
Assets :
The following transactions occured in current year:
a Borrowed $ from a local bank, signing a note due in three years.
b Sold $ of the investments for $ cash.
c Sold onehalf of the property and equipment for $ in cash.
d Declared and paid $ in cash dividends to stockholders.
Calculate the current ratio at December of the current year. Round your answer to decimal places.
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