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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Current assets: Cash Accounts receivable (net) Notes receivable Inventory
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Current assets: Cash Accounts receivable (net) Notes receivable Inventory Prepaid expenses Total current assets Equipment (net) Liabilities and Equity Current liabilities: $ 80 $ Accounts payable 182 Other current liabilities 53 Total current liabilities 211 Long-term liabilities 30 Total liabilities 556 Shareholders' equity: 270 Common stock Retained earnings Total shareholders' equity $826 Total liabilities and equity $ 222 60 282 95 377 130 319 449 $ 826 Total assets The current ratio is (Round your answer to 2 decimal places.): Multiple Choice o 0.67 1.97 1.47. O 2.06
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