Question
Using the following balance sheet and income statement data, what is the current ratio? Current assets $22800 Net income $46100 Current liabilities 10600 Stockholders' equity
Using the following balance sheet and income statement data, what is the current ratio?
| Current assets | $22800 | Net income | $46100 | |
|---|---|---|---|---|
| Current liabilities | 10600 | Stockholders' equity | 65200 | |
| Average assets | 133200 | Total liabilities | 25400 | |
| Total assets | 89400 |
Average common shares outstanding was 19000.
|
| 2.15 : 1 |
|
| 3.52 : 1 |
|
| 0.90 : 1 |
|
| 0.61 : 1 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Contemporary Auditing E4 Im
Authors: KNAPP
4th Edition
0324048602, 978-0324048605
