Solved

Based on the Following Information from Schrute Company's Balance Sheet,calculate

Question 444

Multiple Choice

Based on the following information from Schrute Company's balance sheet,calculate the current ratio.
 Current assets $87,000 Investments 50,000 Plant assets 220,000 Current liabilities 39,000 Long-term liabilities 90,000 Retained earnings 228,000\begin{array} { | l | r | } \hline \text { Current assets } & \$ 87,000 \\\hline \text { Investments } & 50,000 \\\hline \text { Plant assets } & 220,000 \\\hline \text { Current liabilities } & 39,000 \\\hline \text { Long-term liabilities } & 90,000 \\\hline \text { Retained earnings } & 228,000 \\\hline\end{array}


A) .44.
B) 3.51.
C) 3.33.
D) 1.06.
E) 2.23.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions