Question: What is the current ratio? Use the information below. Current Assets Inventory: Acct Rec Total Assets: Current Liabilities: Acct Payable: Total Liabilities: Owner's Equity

What is the current ratio? Use the information below. Current Assets Inventory:

What is the current ratio? Use the information below. Current Assets Inventory: Acct Rec Total Assets: Current Liabilities: Acct Payable: Total Liabilities: Owner's Equity $450,000 $250,000 $200,000 $900,000 $300,000 $100,000 $600,000 $300,000 Costs of Goods Sold: Total Sales Credit Sales Total Purchases: Operating Expenses: Pre-Tax Income: $2,000,000 $3,000,000 $1,500,000 $2,500,000 $700.000 $60,000

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