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Calculate the current ratio for koonce office supplies: balance sheet december 31, 2014 cash $ 130,000 accounts payable $ 140,000 accounts receivable 100,000 salaries and wages payable 20,000 inventor
Calculate the current ratio for koonce office supplies: balance sheet december 31, 2014 cash $ 130,000 accounts payable $ 140,000 accounts receivable 100,000 salaries and wages payable 20,000 inventory 110,000 mortgage payable 160,000 prepaid insurance 60,000 total liabilities $320,000 long-term stock investments 170,000 land 180,000 buildings $210,000 common stock $240,000 less: accumulated retained earnings 500,000 depreciation (40,000) 170,000 total stockholders' equity $740,000 trademarks 140,000 total liabilities and total assets $1,060,000 stockholders' equity $1,060,000
a. 2.13 : 1
b. 1.44 : 1
c. 2.86 : 1
d. 2.50 : 1
