The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity Current liabilities: Current assets: Cash $ 60 Accounts payable $240 Accounts receivable (net) Notes receivable 170 Other current liabilities 80 50 Total current liabilities 320 Long-term liabilities Total liabilities Inventory 200 110 Prepaid expenses 25 430 Total current assets 5e5

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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity Current liabilities: Current assets: Cash $ 60 Accounts payable $240 Accounts receivable (net) Notes receivable 170 Other current liabilities 80 50 Total current liabilities 320 Long-term liabilities Total liabilities Inventory 200 110 Prepaid expenses 25 430 Total current assets 5e5 Shareholders' equity: Equipment (net) 255 Common stock 150 Retained earnings Total shareholders' equity 180 330 Total assets $760 Total liabilities and equity $760 The current ratio is (Round your answer to 2 decimal places.):

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Answer :- Calculation of Current Ratio ($ View the full answer