Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both...
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Accounting
Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.
Assets | |||
Cash and short-term investments | $43,890 | ||
Accounts receivable (net) | 31,775 | ||
Inventory | 34,625 | ||
Property, plant, and equipment | 285,759 | ||
Total assets | $396,049 | ||
Liabilities and Stockholders Equity | |||
Current liabilities | $68,835 | ||
Long-term liabilities | 89,834 | ||
Common stock, $10 par | 62,460 | ||
Retained earnings | 174,920 | ||
Total liabilities and stockholders equity | $396,049 | ||
Income Statement | |||
Sales | $95,391 | ||
Cost of goods sold | 42,926 | ||
Gross margin | $52,465 | ||
Operating expenses | 23,650 | ||
Net income | $28,815 | ||
Number of shares of common stock | 6,246 |
Market price of common stock | $26 |
What is the current ratio? Round your answer to two decimal places.
a. 0.64
b. 1.60
c. 2.22
d. 1.10
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