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    Exam 2: Financial Statements and the Annual Report
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    Read the Information About Cargo Corporation
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Read the Information About Cargo Corporation

Question 82

Question 82

Essay

Read the information about Cargo Corporation.
Required:
Calculate Cargo's current ratio at December 31, 2015.What does this ratio tell you about the "composition" of the current assets?

Correct Answer:

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Current Assets = $85,000
$11,000 Cash + ...

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