Compute the current ratio for 2019. (a) 1.26:1. (b) 3.0:1. (c) 0.80:1. (d) 3.75:1. Inventory Current assets

Compute the current ratio for 2019.

(a) 1.26:1.

(b) 3.0:1.

(c) 0.80:1.

(d) 3.75:1.

Transcribed Image Text:

Inventory Current assets Total assets Current liabilities Total liabilities Common stockholders' equity Net sales Cost of goods sold Net income Income tax expense Interest expense Dividends paid to preferred stockholders Dividends paid to common stockholders 2019 2018 $ 54,000 $48,000 81,000 106,000 382,000 326,000 27,000 36,000 102,000 88,000 198,000 240,000 784,000 697,000 306,000 277,000 134,000 90,000 22,000 18,000 12,000 12,000 4,000 4,000 15,000 10,000