The following data are provided for Cet Company: December 31 2021 2020 Cash $ 1,500,000 $ 1,000,000 Accounts receivable (net) 1,600,000 1,200,000 Inventories 2,600,000 2,200,000 Plant assets (net) 7,000,000 6,500,000 Accounts payable Income taxes payable 1,100,000 800,000 200,000 100,000 Bonds payable 10% Preferred stock, $50 par 1,400,000 1,400,000 2,000,000 2,000,000 Common stock, $10 par Paid-in capital in excess of par Retained earnings 2,400,000 1,800,000 1,600,000 1,300,000 4,000,000 3,500,000 What is Cet's current ratio for 2021?

The following data are provided for Cet Company: December 31 2021 2020 Cash $ 1,500,000 $ 1,000,000 Accounts receivable (net) 1,600,000 1,200,000 Inventories 2,600,000 2,200,000 Plant assets (net) 7,000,000 6,500,000 Accounts payable Income taxes payable 1,100,000 800,000 200,000 100,000 Bonds payable 10% Preferred stock, $50 par 1,400,000 1,400,000 2,000,000 2,000,000 Common stock, $10 par Paid-in capital in excess of par Retained earnings 2,400,000 1,800,000 1,600,000 1,300,000 4,000,000 3,500,000 What is Cet's current ratio for 2021?

Name: The following data are provided for Cet Company:December 3120212020Ca
Uploaded: 2022-11-18T00:26:54.000Z
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Description: The following data are provided for Cet Company:December 3120212020Cash$ 1,500,000$ 1,000,000Accounts receivable (net)1,600,0001,200,000Inventories2,600,0002,200,000Plant assets (net)7,000,0006,500,000Accounts payableIncome taxes payable1,100,000800

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Practice Pack

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The following data are provided for Cet Company:
December 31
2021
2020
Cash
$ 1,500,000
$ 1,000,000
Accounts receivable (net)
1,600,000
1,200,000
Inventories
2,600,000
2,200,000
Plant assets (net)
7,000,000
6,500,000
Accounts payable
Income taxes payable
1,100,000
800,000
200,000
100,000
Bonds payable
10% Preferred stock, $50 par
1,400,000
1,400,000
2,000,000
2,000,000
Common stock, $10 par
Paid-in capital in excess of par
Retained earnings
2,400,000
1,800,000
1,600,000
1,300,000
4,000,000
3,500,000
What is Cet's current ratio for 2021?

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