Practice Test: Chapters 13 \& 14 Managerial Accounting 1 . balance sheet amounts represent both

Practice Test: Chapters 13 & 14 Managerial Accounting 15. Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equityCommon Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Operating expenses Net income Number of shares of common stock Market price of common stock What is the current ratio? a. 142 b. 1 17 c. 158 d. 0 67 $ 40,000 30,000 25,000 215,000 $310,000 $ 60,000 95,000 155,000 $310,000 $90,000 45,000 $45,000 20 ooo $25,000 6,000 $20