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Use the following data to calculate the current ratio. Ace Supply Company Balance Sheet December 31, 2025 Cash $126900 Accounts payable $164500 Accounts receivable 121900
Use the following data to calculate the current ratio.
| Ace Supply Company Balance Sheet December 31, 2025 | |||||
|---|---|---|---|---|---|
| Cash | $126900 | Accounts payable | $164500 | ||
| Accounts receivable | 121900 | Salaries and wages payable | 33700 | ||
| Inventory | 211200 | Note payable (due 2028) | 268300 | ||
| Short-term investments | 85700 | Total liabilities | 466500 | ||
| Land (held for future use) | 253000 | ||||
| Land | 287000 | ||||
| Buildings | $340000 | Common stock | 356000 | ||
| Less: Accumulated depreciation | (58000) | 282000 | Retained earnings | 748500 | |
| Franchise | 203300 | Total stockholders' equity | 1104500 | ||
| Total assets | $1571000 | Total liabilities and stockholders' equity | $1571000 |
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The Pricing Strategy Audit
Authors: Kent B. Monroe
1st Edition
1907766006, 978-1907766008
