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The classified balance sheet for a company reported current assets of $1,494,149, total liabilities of $808,540, Common Stock of $1,090,000, and Retained Earnings of
The classified balance sheet for a company reported current assets of $1,494,149, total liabilities of $808,540, Common Stock of $1,090,000, and Retained Earnings of $139,260. The current ratio was 2.3. Which of the following statements is not correct? Multiple Choice The amount of current assets is 2.3 times the amount of current liabilities. Noncurrent liabilities are $139,260. Total Assets are $2,037,800. Total Stockholders' equity is $1,229,260.
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