Remaining Time: 54 minutes, 44 seconds Question Completion Status: Moving to ano
ID: 2408810 • Letter: R
Question
Remaining Time: 54 minutes, 44 seconds Question Completion Status: Moving to another question will save this response. Question 8 Using the following balance sheet and income statement data, what is the current ratio? Current assets Current liabilities Average assets Total assets Average common shares outstanding was 30,000 $ 42,000 21,000 264,000 180,000 Net income $90,000 Stockholders' equity126,000 Total liabilities 54,000 ??, 2.00 : 1 o b. 1.75:1 O c 0.78:1 d.0.57:1 Oe.None of the abore Moving to another question will save this response. atiExplanation / Answer
Current assets = 42,000
Current liabilities = 21,000
Current ratio = Current assets / current liabilities = 42,000/21,000 = 2.00:1