Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for...

Transcribed Image Text:

Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2. Cash Short-term investments Year 2 Year 1 $ 39,200 $ 33,950 107,000 68,500 Accounts receivable, net 94,000 88,000 Merchandise inventory 129,500 133,500 Prepaid expenses 13,800 11,400 Plant assets Net sales 396,500 346,500 Accounts payable 104,900 116,300 719,500 684,500 Cost of goods sold 398,500 383,500 Multiple Choice 3.52. 2.64. 3.66. 2.42. 2.29. Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2. Cash Short-term investments Year 2 Year 1 $ 39,200 $ 33,950 107,000 68,500 Accounts receivable, net 94,000 88,000 Merchandise inventory 129,500 133,500 Prepaid expenses 13,800 11,400 Plant assets Net sales 396,500 346,500 Accounts payable 104,900 116,300 719,500 684,500 Cost of goods sold 398,500 383,500 Multiple Choice 3.52. 2.64. 3.66. 2.42. 2.29.