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The following balance sheet information is provided for Greene Company for Year 2: Assets Cash $5,400 Accounts receivable 11,550 Inventory 14,700 Prepaid expenses 1,500 Plant
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash $5,400 Accounts receivable 11,550 Inventory 14,700 Prepaid expenses 1,500 Plant and equipment, net of depreciation 19,400 Land 13,300 Total assets $65,850 Liabilities and Stockholders' Equity Accounts payable $2,730 Salaries payable 8,330 Bonds payable (Due in ten years) 11,500 Common stock, no par 17,000 Retained earnings 26,290 Total liabilities and stockholders' equity $65,850 Multiple Choice 1.53 1.40 3.00 0.75
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