Gold River Corporation has the following data: Current Assets $206,000 Total Assets $20,000 Net Income $345,000 Current Liabilities $125,000 Total Liabilities $250,000 Stockholders' equity $270,000 Average common shares outstanding 10,000 What is Gold River's current ratio? a. 2.08 b. 1.64 c. 1.56 d. 0.82 Just want to confirm. My answer is 1.64

Gold River Corporation has the following data: Current Assets $206,000 Total Assets $20,000 Net Income $345,000 Current Liabilities $125,000 Total Liabilities $250,000 Stockholders' equity $270,000 Average common shares outstanding 10,000 What is Gold River's current ratio? a. 2.08 b. 1.64 c. 1.56 d. 0.82 Just want to confirm. My answer is 1.64

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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Question

Gold River Corporation has the following data:

Current Assets $206,000

Total Assets $20,000

Net Income $345,000

Current Liabilities $125,000

Total Liabilities $250,000

Stockholders' equity $270,000

Average common shares outstanding 10,000

What is Gold River's current ratio?

a. 2.08

b. 1.64

c. 1.56

d. 0.82

Just want to confirm. My answer is 1.64

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