Question: Please calculate the current ratio for year 2015. Deep Falls Timber 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT $642,100 409,800 138,400

 Please calculate the current ratio for year 2015. Deep Falls Timber

Please calculate the current ratio for year 2015. Deep Falls Timber 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT $642,100 409,800 138,400 $ 93,900 15 600 $ 78,300 27 500 $ 50.800 Interest Taxable income Taxes Net income Dividends $12,700 Deep Falls Timber Balance Sheets as of December 31, 2014 and 2015 Cash 2015 2014 $ 32,300 $ 46,900 50,700 58,300 70,500 75,800 2015 2014 $ 58,900 $ 61,200 20,000 30,000 134,700 164,500 Accounts receivable Inventory Accounts payable Notes payable Long-term debt Common stock and paid in surplus ($1 par value) Retained earnings Total liabilities & owners' equity Net foxed assets 504,500 461,000 220,000 224,400 200,000 188,300 Total assets $650.000 $642000 $668.000 $642.000 What is the current ratio for 2015? O 1.98 2.06 0.95 O 1.95 98

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