Financial Accounting Solution A company has current assets of $680,000 and currentliabilities of $275,000. The board of directors declares a cashdividend of $200,000.What is the current ratio after the declaration but beforepayment?

Step 1: Definition of Current RatioThe Current Ratio is a financial metric that measures a company's…

Answered: A company has current assets of…

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter10: Measuring Exposure To Exchange Rate Fluctuations

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The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,426,600 Liabilities: Current liabilities $205,000 Note payable, 6%, due in 15 years 1,019,000 Total liabilities $1,224,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during $1,224,000 year) Common stock, $10 par (no change during year) 1,224,000 Retained earnings: Balance, beginning of year $1,306,000 Net income 571,000 $1,877,000 Preferred dividends $48,960 Common dividends 196,040 245,000 Balance, end of year 1,632,000 Total stockholders' equity $4,080,000 Sales $27,926,100 Interest expense $61,140
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A company has current assets of $680,000 and current liabilities of $275,000. The board of directors declares a cash dividend of $200,000. What is the current ratio after the declaration but before payment?