Question
Use the following data to calculate the current ratio. Swifty Corporation Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance $187000 144000 154000
Use the following data to calculate the current ratio. Swifty Corporation Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance $187000 144000 154000 90000 Accounts payable $201000 Salaries and wages payable 28000 Mortgage payable 236000 Total liabilities $465000 Stock investments 260000 Land 296000 Buildings $316000 Common stock $395000 Less: Accumulated depreciation (61000) 255000 Retained earnings 744000 Goodwill 218000 Total stockholders' equity $1139000 Total assets $1604000 Total liabilities and $1604000 stockholders' equity 2.14 1 1.45:1 2.511 2.871
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