Gros-Morne Inc What Is Their Current Ratio?
A)1

Multiple Choice

Gros-Morne Inc.has the following assets and liabilities on their balance sheet: $$\begin{array} { l l } \text { Cash and temporary investments } & \$ 25,000 \\\text { Accounts receivable } & 125,000 \\\text { Inventory } & 225,000 \\\text { Capital assets (net) } & 462,500 \\\text { Accounts payable } & 115,000 \\\text { Other payables } & 138,000 \\\text { Bonds payable } & 100,000\end{array}$$ What is their current ratio?

A) 1.06
B) 1.48
C) 2.37
D) 3.31