Use the following information from XYZ Company's balance sheet: Assets: Cash $6,000 Marketable securities $3,200 Accounts receivable $5,200 Inventory $14,400 Property and equipment $68,000 Accumulated depreciation ($5,000) Total asset $91,800 Liabilities and Stockholders' Equity: Accounts payable $3,400 Notes payable (current) $1,400 Mortgage payable (long-term) $1,800 Bonds payable (long-term) $28,600 Common stock, $50 par $24,000 Paid-in capital in excess of par $11,600 Retained earnings $21,000 Total liabilities and stockholders' equity $91,800 The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. The current ratio is: A. 6 B. 5.5 C. 4 D. 4.5

Use the following information from XYZ Company's balance sheet: Assets: Cash $6,000 Marketable securities $3,200 Accounts receivable $5,200 Inventory $14,400 Property and equipment $68,000 Accumulated depreciation ($5,000) Total asset $91,800 Liabilities and Stockholders' Equity: Accounts payable $3,400 Notes payable (current) $1,400 Mortgage payable (long-term) $1,800 Bonds payable (long-term) $28,600 Common stock, $50 par $24,000 Paid-in capital in excess of par $11,600 Retained earnings $21,000 Total liabilities and stockholders' equity $91,800 The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. The current ratio is: A. 6 B. 5.5 C. 4 D. 4.5

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...

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