Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average...

 

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Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $37,053 34,515 25,839 239,135 $336,542 Income Statement Sales Cost of goods sold Gross margin Operating expenses Net income $86,510 38,930 $47,580 29,037 $18,543 $64,665 93,522 65,870 112,485 $336,542 Number of shares of common stock 6,587 $26 Market price of common stock What is the current ratio? Round your answer to two decimal places. Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $37,053 34,515 25,839 239,135 $336,542 Income Statement Sales Cost of goods sold Gross margin Operating expenses Net income $86,510 38,930 $47,580 29,037 $18,543 $64,665 93,522 65,870 112,485 $336,542 Number of shares of common stock 6,587 $26 Market price of common stock What is the current ratio? Round your answer to two decimal places.

Answer rating: 100% (QA)

ANSWER The current ratio is calculated by dividing current assets by current ... View the full answer