Assets Line Item Description Amount Cash and short-term investments $42,572 Accounts receivable (net) 33,774 Inventory 37,691 Property, plant, and equipment 215,705 Total assets $329,742 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,960 Long-term liabilities 98,919 Common stock, $10 par 64,740 Retained earnings 97,123 Total liabilities and stockholders’ equity $329,742 Income Statement Line Item Description Amount Sales $91,805 Cost of goods sold (41,312) Gross profit $50,493 Operating expenses (28,002) Net income $22,491 Number of shares of common stock 6,474 Market price of common stock $28 What is the current ratio?
Assets Line Item Description Amount Cash and short-term investments $42,572 Accounts receivable (net) 33,774 Inventory 37,691 Property, plant, and equipment 215,705 Total assets $329,742 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,960 Long-term liabilities 98,919 Common stock, $10 par 64,740 Retained earnings 97,123 Total liabilities and stockholders’ equity $329,742 Income Statement Line Item Description Amount Sales $91,805 Cost of goods sold (41,312) Gross profit $50,493 Operating expenses (28,002) Net income $22,491 Number of shares of common stock 6,474 Market price of common stock $28 What is the current ratio?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Assets
| Line Item Description | Amount |
|---|---|
| Cash and short-term investments | $42,572 |
| 33,774 | |
| Inventory | 37,691 |
| Property, plant, and equipment | 215,705 |
| Total assets | $329,742 |
Liabilities and
| Line Item Description | Amount |
|---|---|
| Current liabilities | $68,960 |
| Long-term liabilities | 98,919 |
| Common stock, $10 par | 64,740 |
| 97,123 | |
| Total liabilities and stockholders’ equity | $329,742 |
Income Statement
| Line Item Description | Amount |
|---|---|
| Sales | $91,805 |
| Cost of goods sold | (41,312) |
| Gross profit | $50,493 |
| Operating expenses | (28,002) |
| Net income | $22,491 |
| Number of shares of common stock | 6,474 |
| Market price of common stock | $28 |
What is the
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