Some selected financial statement items belonging to Fanar Company are given in the table below. According to this information, which of the following is the Current Ratio?Inventory 13,500Current Assets 63,000Current Liabilities 36,000Non-current Assets 85,000Net Profit 14,000Shareholders' Equity 68,000Select one:a. 1.09b. 1.79c. 1.35d. 1.75

Current Ratio Measures the ability of an enterprise to meet its short term Liabilities. The standard…

Answered: Some selected financial statement items…

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4CE

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Some selected financial statement items belonging to Fanar Company are given in the table below. According to this information, which of the following is the Current Ratio?

Inventory	13,500
Current Assets	63,000
Current Liabilities	36,000
Non-current Assets	85,000
Net Profit	14,000
Shareholders' Equity	68,000

Select one:

a. 1.09

b. 1.79

c. 1.35

d. 1.75

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