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Omega Company provided the following balance sheet for 2014: Assets Cash $ 3,600 Accounts receivable 5,750 Inventory 10,150 Prepaid expenses 1,650 Plant and equipment, net
Omega Company provided the following balance sheet for 2014:
Assets | ||
Cash | $ | 3,600 |
Accounts receivable | 5,750 | |
Inventory | 10,150 | |
Prepaid expenses | 1,650 | |
Plant and equipment, net of depreciation | 28,000 | |
Land | 20,100 | |
Total assets | $ | 69,250 |
Liabilities and Stockholders' Equity | ||
Accounts payable | $ | 2,500 |
Salaries payable | 7,500 | |
Bonds payable (Due in 2020) | 10,000 | |
Common stock, no par | 14,000 | |
Retained earnings | 35,250 | |
Total liabilities and stockholders' equity | $ | 69,250 |
What is the company's plant assets to long-term liabilities ratio? (Round your final answer to 1 decimal place.)
2.2
2.8
2.0
None of these answers is correct
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