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The classified balance sheet for a company reported current assets of $1,689,116, total liabilities of $811,540, Common Stock of $1,120,000, and Retained Earnings of
The classified balance sheet for a company reported current assets of $1,689,116, total liabilities of $811,540, Common Stock of $1,120,000, and Retained Earnings of $142,260. The current ratio was 2.6. Which of the following statements is not correct? Multiple Choice Total Stockholders' equity is $1,262,260. Total Assets are $2,073,800. Noncurrent liabilities are $142,260. The amount of current assets is 2.6 times the amount of current liabilities.
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