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Use This Balance Sheet and Income Statement for the First

Question 16

Multiple Choice

Use this balance sheet and income statement for the first year of operations for Layton Novelties,Inc.to answer the following question. Use this balance sheet and income statement for the first year of operations for Layton Novelties,Inc.to answer the following question. The current ratio for Layton Novelties is A) 1.75. B) .57. C) 1.4. D) 2.0. Use this balance sheet and income statement for the first year of operations for Layton Novelties,Inc.to answer the following question. The current ratio for Layton Novelties is A) 1.75. B) .57. C) 1.4. D) 2.0. The current ratio for Layton Novelties is


A) 1.75.
B) .57.
C) 1.4.
D) 2.0.

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