calculate the current ratio.Maximum 2 decimal places. Alberta Corporation 2019 Income Statement Sales Cost of goods sold

calculate the current ratio. Maximum 2 decimal places.

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Alberta Corporation 2019 Income Statement Sales Cost of goods sold Selling and Admin. Costs Depreciation EBIT Interest expense EBT Taxes @ 25% Net income Dividends paid Additions to retained earnings Alberta Corporation Balance Sheet, Jan. 1, 2019 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Alberta Corporation Balance Sheet, Dec. 31, 2019 Cash Accounts Receivable Inventory Current assets Net fixed assets Total assets $500,000 $300,000 $60,000 $50,000 $90,000 $10,000 $80,000 $20,000 $60,000 $20,000 $40,000 $10,000 $20,000 $15,000 $45,000 $300,000 $345,000 $12,000 $22,000 $20,000 $54,000 $400,000 $454,000 Accounts Payable Notes payable Current Liabilities Long term debt Equity Total Liabilities and Equity Accounts Payable Notes Payable Current Liabilities Long term debt Equity Total Liabilities and Equity $5,000 $10,000 $15,000 $150,000 $180,000 $345,000 $7,000 $14,000 $21,000 $160,000 $273,000 $454,000 Alberta Corporation 2019 Income Statement Sales Cost of goods sold Selling and Admin. Costs Depreciation EBIT Interest expense EBT Taxes @ 25% Net income Dividends paid Additions to retained earnings Alberta Corporation Balance Sheet, Jan. 1, 2019 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Alberta Corporation Balance Sheet, Dec. 31, 2019 Cash Accounts Receivable Inventory Current assets Net fixed assets Total assets $500,000 $300,000 $60,000 $50,000 $90,000 $10,000 $80,000 $20,000 $60,000 $20,000 $40,000 $10,000 $20,000 $15,000 $45,000 $300,000 $345,000 $12,000 $22,000 $20,000 $54,000 $400,000 $454,000 Accounts Payable Notes payable Current Liabilities Long term debt Equity Total Liabilities and Equity Accounts Payable Notes Payable Current Liabilities Long term debt Equity Total Liabilities and Equity $5,000 $10,000 $15,000 $150,000 $180,000 $345,000 $7,000 $14,000 $21,000 $160,000 $273,000 $454,000

Answer rating: 100% (QA)

SOLUTION The current ratio is calculated by dividing current assets by current liabilities Lets calc... View the full answer