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College Accounting, Chapters 1-27

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6CE

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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

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