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The following information pertains to Sunland Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were
The following information pertains to Sunland Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Total Assets $41000 24000 21000 206000 $292000 Liabilities and Stockholders' Equity Current liabilities $ 40000 Long-term liabilities 106000 Stockholders' equity-common 146000 Total Liabilities and Stockholders' Equity $292000 Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Net income $ 85700 45800 39900 19700 $ 20200 Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations 5100 $18 0.90 $30400 What is the current ratio for this company? o 2.15 1.53 o 1.89 o 1.33
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