Need answer general Accounting question A company has current assets of $558,000 and currentliabilities of $221,000. The board of directors declares acash dividend of $174,000.a. What is the current ratio after the declaration butbefore payment?b. What is the current ratio after the payment of thedividend?

Step 1: Define Current RatioThe current ratio is a statistic that accountants and finance experts…

Answered: A company has current assets of…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 10BE

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A company has current assets of $558,000 and current liabilities of $221,000. The board of directors declares a cash dividend of $174,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?