Question: Agnes Company reported the following data: Quick assets $53,000 Current assets 148,000 Total liabilities 298,000 Average net receivables 13,800 Beginning inventory 36,000 Long-term liabilities 198,000

Agnes Company reported the following data:

Quick assets $53,000
Current assets 148,000
Total liabilities 298,000
Average net receivables 13,800
Beginning inventory 36,000
Long-term liabilities 198,000
Net credit sales 124,000
Cost of goods sold 82,000
Ending inventory 44,000

What was the current ratio?

Multiple Choice

  • 0.68

  • 1.48

  • 0.75

  • 0.50

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