Question: Using the following balance sheet and income statement data, what is the current ratio? Current assets 14,000 Net income 24,000 Current liabilities 8,000 Stockholders' equity

Using the following balance sheet and income statement data, what is the current ratio?

Current assets 14,000

Net income 24,000

Current liabilities 8,000

Stockholders' equity 42,000

Average assets 80,000

Total liabilities 18,000

Total assets 60,000

Average common shares outstanding was 10,000

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