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Using the following balance sheet and income statement data, what is the current ratio? 2$ Current assets Net income 27000 41600 Stockholders' Current liabilities 13800 78400 equity Average assets 158700 Total liabilities 43400 Total assets 132000 Average common shares outstanding was 14200. O 2.0:1 O 0.5:1 O 2.6:1 O 3.2:1

Using the following balance sheet and income statement data, what is the current ratio? 2$ Current assets Net income 27000 41600 Stockholders' Current liabilities 13800 78400 equity Average assets 158700 Total liabilities 43400 Total assets 132000 Average common shares outstanding was 14200. O 2.0:1 O 0.5:1 O 2.6:1 O 3.2:1

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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Using the following balance sheet and income statement data, what is the current ratio? $ $ Current assets Net income 27000 41600 Stockholders' Current liabilities 13800 78400 equity Average assets 158700 Total liabilities 43400 Total assets 132000 Average common shares outstanding was 14200. O 2.0:1 O 0.5:1 O 2.6:1 O 3.2:1
Transcribed Image Text:Using the following balance sheet and income statement data, what is the current ratio? $ $ Current assets Net income 27000 41600 Stockholders' Current liabilities 13800 78400 equity Average assets 158700 Total liabilities 43400 Total assets 132000 Average common shares outstanding was 14200. O 2.0:1 O 0.5:1 O 2.6:1 O 3.2:1
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