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Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000

Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000

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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Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000
Transcribed Image Text:Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000
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