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The year-end balance sheet of Medina, Inc. shows the following accounts and balances: Cash $ 250 Accounts receivable 300 Prepaid insurance 50 Equipment, net 2,000
The year-end balance sheet of Medina, Inc. shows the following accounts and balances:
Cash $ 250
Accounts receivable 300
Prepaid insurance 50
Equipment, net 2,000
Accounts payable 200
Wages payable 100
Notes payable, due in 5 years 800
Common stock 1,000
Retained earnings 500
What is Medina's current ratio?
a. | .5 | |
b. | 1 | |
c. | 1.33 | |
d. | 2 | |
e. | none of the above |
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