business accounting

Project Description:

use the following balance sheet and income statement information to calculate the current ratio..



current assets $ 8,000 net income $ 9,000
current liabilities 4,000 stockholders equity 27,000
average assets 40,000 total liabilities 5,000
total assets 30,000
average common shares outstanding was 10,000




student answer: 1.75:1
incorrect 1.4:1
0.57:1
correct 2:1

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