Question: The following partial balance sheet ($ In thousands) for Paisano Seafood Incorporated is shown below. $ 79 172 Assets Current assets: Cash Accounts receivable (net)

 The following partial balance sheet ($ In thousands) for Paisano Seafood

The following partial balance sheet ($ In thousands) for Paisano Seafood Incorporated is shown below. $ 79 172 Assets Current assets: Cash Accounts receivable (net) Notes receivable Inventory Prepaid expenses Total current assets Equipment (net) $ 236 71 307 104 55 203 32 541 Liabilities and Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term liabilities Total liabilities Shareholders' equity: Common stock Retained earnings Total shareholders' equity Total liabilities and equity 411 259 136 253 389 Total assets $ 800 800 The current ratio is: Note: Round your answer to 2 decimal places. Multiple Choice 2.09. 1.76. 0.68. 1.32

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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!