Given the following account values, calculate the firm's current ratio: 

Cash $76,000; 

Short-term investments $8,000; 

Accounts receivable $96,000; 

Supplies $12,000; 

Long-term notes receivable $4,000; 

Equipment $192,000; 

Factory Building $360,000; 

Intangible assets $12,000; 

Accounts payable $90,000; 

Accrued liabilities payable $12,000; 

Short-term notes payable $42,000; 

Long-term notes payable $184,000.

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Answer rating: 100% (QA)

To find current ratio we use the formula Current ratio Total current assets ... View the full answer