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Assets sh counts receivable (net) estments entory paid rent Total current assets $ 65 178 53 203 28 527 Stockholders' Equity Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Stockholders' equity: $245 87 332 116 448

Assets sh counts receivable (net) estments entory paid rent Total current assets $ 65 178 53 203 28 527 Stockholders' Equity Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Stockholders' equity: $245 87 332 116 448

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A partial balance sheet for Grays Harbor Sporting Goods is shown below. (dollars in thousands) Cash Accounts receivable (net) Investments Inventory Prepaid rent Total current assets Property & Equipment, (net) Total assets Multiple Choice O 2.60 1.18 Assets Compute the current ratio. (Round your answer to 2 decimal places.) 1.59 O 0.67 Liabilities and Stockholders' Equity $65 Accounts payable 178 Other liabilities 53 Total current liabilities 203 28 527 257 $784 Long-term liabilities Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and equity $245 87 332 116 448 155 181 336 $784
Transcribed Image Text:A partial balance sheet for Grays Harbor Sporting Goods is shown below. (dollars in thousands) Cash Accounts receivable (net) Investments Inventory Prepaid rent Total current assets Property & Equipment, (net) Total assets Multiple Choice O 2.60 1.18 Assets Compute the current ratio. (Round your answer to 2 decimal places.) 1.59 O 0.67 Liabilities and Stockholders' Equity $65 Accounts payable 178 Other liabilities 53 Total current liabilities 203 28 527 257 $784 Long-term liabilities Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and equity $245 87 332 116 448 155 181 336 $784
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