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Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio...

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Question

Accounting

Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2.

Year 2Year 1

Cash$38,400 $33,150

Short-term investments 99,000 64,500

Accounts receivable, net 90,000 84,000

Merchandise inventory 125,500 129,500

Prepaid expenses 13,000 10,600

Plant assets 392,500 342,500

Accounts payable 108,900 112,300

Net sales 715,500 680,500

Cost of goods sold 394,500 379,500

Multiple Choice

2.09.

2.21.

3.24.

3.36.

2.45.

Answer & Explanation Solved by verified expert
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