Question: If your current ratio is 2 and your current assets are $600,000 what is the amount of your current liabilities? If your debt to equity

If your current ratio is 2 and your current assets are $600,000 what is the amount of your current liabilities?

If your debt to equity ratio is 1.5 and your total liabilities are $200,000 what is your total stockholders' equity?

If your return on sales is 8% and your net income is $2,000,000, how much sales did you generate during the year?

Step by Step Solution

3.53 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

1 We can use the formula for the current ratio Current Ratio Current Assets Current Liabilities We a... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!