Question: Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 141 $ 111 Accounts receivable, net 292

Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 141 $ 111 Accounts receivable, net 292 312 Inventory 123 143 Prepaid expenses 21 21 Total current assets $ 577 $ 587 Total current liabilities $ 274 $ 275 Sales on account in Year 2 amounted to $1,445 and the cost of goods sold was $895. The current ratio at the end of Year 2 is closest to: Multiple Choice O 0.62 O 1.05 O 0.60 O 2.11
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
