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A friend asks for your help in organizing a balance sheet for her business. She...

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Accounting

A friend asks for your help in organizing a balance sheet for her business. She says she has the following assets: Cash = $5,000 Receivables = $30,000 Inventory = $65,000 Land = $30,000 Buildings = $70,000 Equipment = $100,000 The friend then says she has the following liabilities: Accounts Payable = $5,000 Short-Term Loan Payments = $5,000 Combined Monthly Long-Term Loan Payments = $10,000 Outstanding Long-Term Loans = $100,000 ------------------------------------------------------------------------------- What is the Current Ratio given the information provided?

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