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Indigo Associates Inc. reports the following account balances for the year ending June 30, 2025: Accounts payable $22,000 Accounts receivable 38,000 Cash and cash
Indigo Associates Inc. reports the following account balances for the year ending June 30, 2025: Accounts payable $22,000 Accounts receivable 38,000 Cash and cash equivalents 16,500 Goodwill 129,000 Inventory 80,000 Notes payable (due 2028) 107,000 Interest payable 3,600 Notes payable (due.Jan. 2026) 15,000 Property, plant, and equipment 575,000 Accumulated depreciation 105,000 Prepaid insurance 9,130 Salaries and wages payable 13,600 Bonds payable 335,000 Compute the company's (a) current ratio and (b) debt to assets ratio. (Round current ratio to.2 decimal places, e.g. 1.55:1 and debt to assets ratio to O decimal place, e.g. 55%.) (a) Current ratio :1
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