Question
NL Inc Balance sheet information as of 12/31/2021 Assets Cash = $17,050 A/R = $73,400 Inventories = $8,500 Total Current assets = $98,950 Property Plant
NL Inc
Balance sheet information
as of 12/31/2021
Assets
Cash = $17,050
A/R = $73,400
Inventories = $8,500
Total Current assets = $98,950
Property Plant and Equipment = $14,250
Total Assets = $113,200
Liabilities
A/P $25,000
Other current liabilities. $37,500
Long term debt. $54,500
Total liabilities = $117,000
Group of answer choices
.97
1.58
.85
3.96
Using the information below, what is the current ratio for NL Inc. (if necessary round to the nearest tenth).
NL Inc
Balance sheet information
as of 12/31/2021
Assets
Cash = $17,050
A/R = $73,400
Inventories = $8,500
Total Current assets = $98,950
Property Plant and Equipment = $14,250
Total Assets = $113,200
Liabilities
A/P $25,000
Other current liabilities. $37,500
Long term debt. $54,500
Total liabilities = $117,000
Group of answer choices
.97
1.58
.85
3.96
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting A Global Perspective
Authors: Robert Libby, Patricia Libby, Daniel G Short
5th Edition
0071107746, 978-0071107747
