Question
Using the following balance sheet and income statement data, what is the current ratio? Current assets $31000 Net income $41100 Current liabilities 14400 Stockholders' equity
Using the following balance sheet and income statement data, what is the current ratio?
| Current assets | $31000 | Net income | $41100 | |
|---|---|---|---|---|
| Current liabilities | 14400 | Stockholders' equity | 78600 | |
| Average assets | 159500 | Total liabilities | 42800 | |
| Total assets | 123000 |
Average common shares outstanding was 16300.
2.2 : 1
2.7 : 1
0.5 : 1
3.0 : 1
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
17th Edition
0077304454, 978-0077304454
