16 A partial balance sheet for Grays Harbor Sporting Goods is shown below.(dollars in thousands)CashAccounts receivable (net)InvestmentsInventoryPrepaid rentTotal current assetsProperty & Equipment, (net)Total assetsMultiple ChoiceO2.601.18AssetsCompute the current ratio. (Round your answer to 2 decimal places.)1.59O 0.67Liabilities andStockholders' Equity$65 Accounts payable178Other liabilities53Total current liabilities20328527257$784Long-term liabilitiesTotal liabilitiesStockholders' equity:Common stockRetained earningsTotal stockholders' equityTotal liabilities and equity$24587332116448155181336$784

Current ratio is based on Current assets and current liabilities of the company. It generally…

Assets sh counts receivable (net) estments entory paid rent Total current assets $ 65 178 53 203 28 527 Stockholders' Equity Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Stockholders' equity: $245 87 332 116 448

Assets sh counts receivable (net) estments entory paid rent Total current assets $ 65 178 53 203 28 527 Stockholders' Equity Accounts payable Other liabilities Total current liabilities Long-term liabilities Total liabilities Stockholders' equity: $245 87 332 116 448

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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