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Jaguar Plastics Company has been operating for three years. At December 3 1 of last year, the accounting records reflected the following: During the current
Jaguar Plastics Company has been operating for three years. At December of last year, the accounting records reflected the following:
During the current year, the company had the following summarized activities:
a Purchased shortterm investments for $ cash.
b Lent $ to a supplier, who signed a twoyear note.
c Leased equipment that cost $; paid $ cash and signed a fiveyear rightofuse lease for the balance.
d Hired a new president at the end of the year. The contract was for $ per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January of next year.
e Issued an additional shares of $ par value common stock for $ cash.
f Borrowed $ cash from a local bank, payable in three months.
g Purchased a patent an intangible asset for $ cash.
h Built an addition to the factory for $; paid $ in cash and signed a threeyear note for the balance.
i Returned defective equipment to the manufacturer, receiving a cash refund of $
P Part
Required:
Compute the current ratio for the current year.
Note: Round your answer to decimal places.
Current ratio
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