Question: Whats the process on how to do this? Use the following information following balances as of December 31, 2016: to answer questions 6 & 7.
Use the following information following balances as of December 31, 2016: to answer questions 6 & 7. Silverstone Company has the Inventory Accounts receivable Accounts payable Prepaid insurance Property, plant and equipment $14,000 $16,500 Retained earnings Unearned revenue Cash Common stock $33,500 $22,000 $28,300 $13,200 $13,500 $1,500 ??? 6. What is the ending balance for property, plant and equipment? a. 23,400 b. 21,900 C. 24,900 d. 29,400 7. What is the company's current ratio? (Round to the nearest tenth) a. 2.3 to 1 b. 1.4 to 1 C 1.6 to 1 d. 1.7 to 1
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