The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (due in ten years) $4,200 10,350 14,100 900 18,800 12,700 $61,050 $2,370 8,930 8.500
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (due in ten years) $4,200 10,350 14,100 900 18,800 12,700 $61,050 $2,370 8,930 8.500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following balance sheet information is provided for Duke Company for Year 2:
Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Plant and equipment, net of depreciation
Land
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Salaries payable
Bonds payable (due in ten years)
Common stock, no par
Retained earnings
Total liabilities and stockholders' equity
What is the company's current ratio? (Round your answer to 2 decimal places.)
Multiple Choice
O
1.29
2.62
1.45
0.73
$4,200
10,350
14,100
900
18,800
12,700
$61,050
$2,370
8,930
8,500
20,000
21,250
$61,050](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F13ffb487-410c-4808-947c-8212d0ee5563%2Fc9f33cdf-54c0-4b3b-8f53-396c1adc4f5c%2F70nj62o_processed.png&w=3840&q=75)
Transcribed Image Text:The following balance sheet information is provided for Duke Company for Year 2:
Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Plant and equipment, net of depreciation
Land
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Salaries payable
Bonds payable (due in ten years)
Common stock, no par
Retained earnings
Total liabilities and stockholders' equity
What is the company's current ratio? (Round your answer to 2 decimal places.)
Multiple Choice
O
1.29
2.62
1.45
0.73
$4,200
10,350
14,100
900
18,800
12,700
$61,050
$2,370
8,930
8,500
20,000
21,250
$61,050
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