Question
The following balance sheet information is provided for Duke Company for Year 2: AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts
The following balance sheet information is provided for Duke Company for Year 2:
AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts payable$4,500Salaries payable11,500Bonds payable (Due in ten years)19,000Common stock, no par30,000Retained earnings15,650Total liabilities and stockholders' equity$80,650
What is the company's current ratio?(Round your answer to 2 decimal places.)
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Accounting Information Systems Controls and Processes
Authors: Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland
3rd edition
1119329566, 1119329565, 1119386179, 1119302110, 9781119302117 , 978-1119329565
