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What is the current ratio? Use the information below. Current Assets: $450,000 Costs of Goods Sold: $2.000,000 Inventory $250,000 Total Sales $3.000.000 Acct Rec: $200,000 Credit Sales: $1,500,000 Total Assets $900,000 Total Purchases $2,500,000 Current $300,000 Operating Expenses: $700.000 Liabilities: Acct Payable Pre-Tax Income: $60.000 $100,000 Total Liabilities: $600,000 Owner's Equity $300.000

What is the current ratio? Use the information below. Current Assets: $450,000 Costs of Goods Sold: $2.000,000 Inventory $250,000 Total Sales $3.000.000 Acct Rec: $200,000 Credit Sales: $1,500,000 Total Assets $900,000 Total Purchases $2,500,000 Current $300,000 Operating Expenses: $700.000 Liabilities: Acct Payable Pre-Tax Income: $60.000 $100,000 Total Liabilities: $600,000 Owner's Equity $300.000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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What is the current ratio? Use the information below. Current Assets $450,000 Costs of Goods Sold: $2.000,000 Inventory $250,000 Total Sales $3.000,000 Acct Rec: $200,000 Credit Sales: $1,500,000 Total Assets $900,000 Total Purchases: $2,500,000 Current $300,000 Operating Expenses: $700.000 Liabilities: Acct Payable $100,000 Pre-Tax Income: $60.000 Total Liabilities: $600,000 Owner's Equity $300.000
Transcribed Image Text:What is the current ratio? Use the information below. Current Assets $450,000 Costs of Goods Sold: $2.000,000 Inventory $250,000 Total Sales $3.000,000 Acct Rec: $200,000 Credit Sales: $1,500,000 Total Assets $900,000 Total Purchases: $2,500,000 Current $300,000 Operating Expenses: $700.000 Liabilities: Acct Payable $100,000 Pre-Tax Income: $60.000 Total Liabilities: $600,000 Owner's Equity $300.000
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