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The following data is from the December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000 Accounts and notes receivable, net 184,000 Merchandise
The following data is from the December 31, balance sheet of Andrews Company:
Cash $136,000
Marketable securities 64,000
Accounts and notes receivable, net 184,000
Merchandise inventory 244,000
Prepaid expenses 12,000
AccountsNotes payable, short term 256,000
Accrued liabilities 64,000
Bonds payable, long-term 400,000
The current ratio is:
Select one or more:
a.1.2
b.1.2:1
c.2.1
d.3:1
(I keep getting 2:1 as the answer but that isnt an option.)
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