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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity Current assets: Current liabilities: Cash $
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
Assets | Liabilities and Equity | ||||||
Current assets: | Current liabilities: | ||||||
Cash | $ | 78 | Accounts payable | $ | 231 | ||
Accounts receivable (net) | 184 | Other current liabilities | 78 | ||||
Notes receivable | 57 | Total current liabilities | 309 | ||||
Inventory | 211 | Long-term liabilities | 107 | ||||
Prepaid expenses | 42 | Total liabilities | 416 | ||||
Total current assets | 572 | Shareholders' equity: | |||||
Equipment (net) | 274 | Common stock | 143 | ||||
Retained earnings | 287 | ||||||
Total shareholders' equity | 430 | ||||||
Total assets | $ | 846 | Total liabilities and equity | $ | 846 | ||
The current ratio is (Round your answer to 2 decimal places.):
Multiple Choice
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0.68.
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1.38.
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2.09.
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1.85.
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