The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Total Assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common Total Liabilities and stockholders' equity Sales Cost of goods sold Gross margin Assets Operating expenses Net income 1.53 0.61 2.22 1.03 Income Statement $41,055 28,036 33,093 284,150 $386.334 $66,901 91,627 227,806 $386,334 $95,326 42.897 $52,429 23.334 $29.095 Number of shares of common stock 5,102 Market price of common stock $29 What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer. What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer.
The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Total Assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common Total Liabilities and stockholders' equity Sales Cost of goods sold Gross margin Assets Operating expenses Net income 1.53 0.61 2.22 1.03 Income Statement $41,055 28,036 33,093 284,150 $386.334 $66,901 91,627 227,806 $386,334 $95,326 42.897 $52,429 23.334 $29.095 Number of shares of common stock 5,102 Market price of common stock $29 What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer. What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that
all sales were on credit.
Cash and short-term investments
Accounts receivable (net)
Inventory
Property, plant and equipment
Total Assets
Assets
Liabilities and Stockholders' Equity
Current liabilities
Long-term liabilities
Stockholders' equity-common
Total Liabilities and stockholders' equity
Sales
Cost of goods sold
Gross margin
Operating expenses
Net income
1.53
0.61
2.22
1.03
Income Statement
$41,055
28,036
33,093
284,150
$386.334
$66,901
91,627
227,806
$386.334
$95,326
42.897
$52,429
23.334
$29.095
Number of shares of common stock
5,102
Market price of common stock
$29
What is the current ratio for this company? Round your answer to two decimal places.
Select the correct answer.
What is the current ratio for this company? Round your answer to two decimal places.
Select the correct answer.
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