Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. What is the current ratio? Round your answer to two decimal places.

Survey of Accounting (Accounting I)
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Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.

What is the current ratio? Round your answer to two decimal places.

Assets
Cash and short-term investments
$44,726
Accounts receivable (net)
31,527
Inventory
31,498
Property, plant, and equipment
280,405
Total assets
$388,156
Liabilities and Stockholders' Equity
Current liabilities
$68,954
Long-term liabilities
93,106
Common stock, $10 par
53,990
Retained earnings
172,106
Total liabilities and stockholders' equity
$388,156
Income Statement
Sales
$96,733
Cost of goods sold
43,530
Gross margin
$53,203
Operating expenses
26,313
Net income
$26,890
Number of shares of common stock
5,399
Market price of common stock
$27
Transcribed Image Text:Assets Cash and short-term investments $44,726 Accounts receivable (net) 31,527 Inventory 31,498 Property, plant, and equipment 280,405 Total assets $388,156 Liabilities and Stockholders' Equity Current liabilities $68,954 Long-term liabilities 93,106 Common stock, $10 par 53,990 Retained earnings 172,106 Total liabilities and stockholders' equity $388,156 Income Statement Sales $96,733 Cost of goods sold 43,530 Gross margin $53,203 Operating expenses 26,313 Net income $26,890 Number of shares of common stock 5,399 Market price of common stock $27
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