Dooley Company had current assets of $1,562, current liabilities of $1,443, total assets of $1,742, and long-term liabilities of $1.210. if Dooley acquires inventory by executing a six-month note for $1,480, what is the new current ratio? (Round your final answer to two decimal places) OA 0.96 OB. 1.04 OC. 1.00 OD 211

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Question

Subject: accounting 

Dooley Company had current assets of $1,562, current liabilities of $1,443, total assets of $1,742, and long-term liabilities of $1.210. if Dooley acquires inventory by executing a six-month note for
$1,450, what is the new current rabo? (Round your final answer to two decimal places)
OA. 0.96
OB. 1.04
⠀
OC. 1.08
OD 211
Transcribed Image Text:Dooley Company had current assets of $1,562, current liabilities of $1,443, total assets of $1,742, and long-term liabilities of $1.210. if Dooley acquires inventory by executing a six-month note for $1,450, what is the new current rabo? (Round your final answer to two decimal places) OA. 0.96 OB. 1.04 ⠀ OC. 1.08 OD 211
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