Given the Following Information,calculate the Current Ratio * Based on Ending Balance of Assets

Essay

Given the following information,calculate the current ratio:
$$\begin{array} { l r } \text { Curent Arsets } & \$ 85,000 \\\text { Long-Term Liabilities } & - 0 - \\\text { Net Income } & \$ 30,000 \\\text { Return on Assets* } & 12.5 \% \\\text { Debt-to-Equity Ratio } & 20.0 \%\end{array}$$ * Based on ending balance of assets