The Chamberlain Corporation reported the following: \begin{tabular}{lrrr} Income Statement & Year3 & Year2 & Year1 \\ Revenue & 12,300 & 10,800 & 8,900 \\ Cost of goods sold & 10,200 & 9,600 & 6,400 \\ Selling \& admin. expenses & 950 & 800 & 1,200 \\ Net Income & 1,150 & 400 & 1,300 \end{tabular} \begin{tabular}{lrrr} Balance Sheet & Year 3 & Year 2 & Year1 \\ Assets & & & \\ Cash & 880 & 620 & 700 \\ Accounts receivable & 300 & 250 & 280 \\ Inventory & 3,200 & 3,000 & 2,800 \\ Property \& equipment (net) & 9,930 & 9,810 & 10,400 \\ Total Assets & 14,310 & 13,680 & 14,180 \end{tabular} Liabilities \begin{tabular}{lrrr} Accounts payable & 1,160 & 1,080 & 980 \\ Long term liabilities & 9,000 & 9,200 & 8,900 \\ Stockholders' Equity & & & \\ Common stock & 3,000 & 3,000 & 3,000 \\ Retained earnings & 1,150 & 400 & 1,300 \\ Total Liabilities and Equity & 14,310 & 13,680 & 14,180 \end{tabular} What is the company's the company's current ratio for year 2? As needed, round your final answer (but not intermediate steps) to two decimal places
Other questions asked by students
A subspace of Rn is any set H in Rn that has three properties: a) The zero vector...
How does the conflict view of gender differ from the functionalist view?
15 Stealing someone s identity is OA misinformation OB identity theft O C cyberbullying O...
Tength of eyepiece Resolving power of a microscope depends upon 1 the focal length and...
Let h(x) = 3 + 4cos x.Use the limit definition of the derivative to differentiate...
Find the are length function for the curve t t sinxt cosat starting from the...
5. On November 1, Bonita Blankets sold goods and accepted a note of $48,000, six-month,...
Riverbed Vision Inc, opened for business on Jan 1, and uses a perpetual inventory system....