Question:

Selected information for Alastair Company is as follows:

2012

Current assets

$450,000

Total assets

725,000

Cost of goods sold

700,000

Sales revenue

915,000

Net income

145,000

What is the percentage that would be given to current assets on a common-size balance sheet (round to the nearest percent)?

20 percent

77 percent

100 percent

49 percent

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