The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both...
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Accounting
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The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
Assets Cash and short-term investments $38,446 Accounts receivable (net) 25,630 Inventory 27,979 Property, plant and equipment 280,511 Total Assets $372,566
Liabilities and Stockholders' Equity Current liabilities $64,364 Long-term liabilities 88,526 Stockholders' equity-common 219,676 Total Liabilities and stockholders' equity $372,566 Income Statement Sales $85,063 Cost of goods sold 38,278 Gross margin $46,785 Operating expenses 22,485 Net income $24,300 Number of shares of common stock 6,671 Market price of common stock $29
What is the current ratio for this company? Round your answer to two decimal places.
Select the correct answer.
1.43
0.60
1.00
2.22
The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
| Assets | |
| Cash and short-term investments | $38,446 |
| Accounts receivable (net) | 25,630 |
| Inventory | 27,979 |
| Property, plant and equipment | 280,511 |
| Total Assets | $372,566 |
| Liabilities and Stockholders' Equity | |
| Current liabilities | $64,364 |
| Long-term liabilities | 88,526 |
| Stockholders' equity-common | 219,676 |
| Total Liabilities and stockholders' equity | $372,566 |
| Income Statement | |
| Sales | $85,063 |
| Cost of goods sold | 38,278 |
| Gross margin | $46,785 |
| Operating expenses | 22,485 |
| Net income | $24,300 |
| Number of shares of common stock | 6,671 |
| Market price of common stock | $29 |
What is the current ratio for this company? Round your answer to two decimal places.
Select the correct answer.
1.43
0.60
1.00
2.22
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