The following information was taken from the financial statements of Brandon's Motor Shop: Total current assets $  53,000 Property, plant, and equipment 6,000 Current liabilities 21,000 Long-term liabilities 4,000 Owner's equity 34,000 Beginning inventory 31,000 Ending inventory 33,000 Cost of goods sold 152,000 Net income 42,000 The current ratio for Brandon's Motor Shop is closest to

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information was taken from the financial statements of Brandon's Motor Shop:

Total current assets $  53,000
Property, plant, and equipment 6,000
Current liabilities 21,000
Long-term liabilities 4,000
Owner's equity 34,000
Beginning inventory 31,000
Ending inventory 33,000
Cost of goods sold 152,000
Net income 42,000

The current ratio for Brandon's Motor Shop is closest to

 
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