Question: Agnes Company reported the following data: Quick assets $ 47,000 Current assets 142,000 Total liabilities 292,000 Average net receivables 14,400 Beginning inventory 30,000 Long-term liabilities

Agnes Company reported the following data:

Quick assets $ 47,000
Current assets 142,000
Total liabilities 292,000
Average net receivables 14,400
Beginning inventory 30,000
Long-term liabilities 192,000
Net credit sales 118,000
Cost of goods sold 76,000
Ending inventory 38,000

What was the current ratio?

a) .49

b) .70

c) .74

d) 1.42

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