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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.

FINANCIAL ACCOUNTING
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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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.
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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