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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 $ 44000 Accounts receivable (net) 28000 Inventory 26000 Property, plant and equipment 218000 Total Assets $ 316000 Liabilities and Stockholders' Equity Current liabilities $ 40000 Long-term liabilities 118000 urrent Idules 40000 Long-term liabilities 118000 Stockholders' equity-common 158000 Total Liabilities and Stockholders' Equity $ 316000 Income Statement Sales revenue $ 117000 Cost of goods sold 69000 Gross margin 48000 Operating expenses 32000 Net income $ 16000 YOUUU Operating expenses 32000 Net income $ 16000 Number of shares of common stock 6200 Market price of common stock $ 15 Dividends per share on common stock 0.60 Cash provided by operations $ 35000 What is the current ratio for this company? O 1.95 O 1.80 O 2.45 01.10
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