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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below The acid-test ratio is (rounded): Select one: a. 1.58. b.
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below
The acid-test ratio is (rounded):
Select one:
a. 1.58.
b. 0.25.
c. 0.88.
d. 1.17.
Current assets: Current Liabilities: Cash Accounts receivable (net) Notes receivable Inventories Prepaid expenses Total current assets Plant assets (net) $ 60 170 $240 SO 50 200 320 Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Shareholders' equity: Capital stock Retained earnings Total shareholders' equity Total liabilities and equity 10 430 505 255 Total assets $760 150 180 330 $760Step by Step Solution
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