The following is the adjusted trial balance for Mandrake Inc. on September 30, 2023. The...
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Accounting
The following is the adjusted trial balance for Mandrake Inc. on September 30, 2023. The company opened on October 1, 2022.
| Account | DEBIT | CREDIT |
|---|---|---|
| Cash | 10,000 | |
| Accounts receivable | 14,000 | |
| Prepaid insurance | 2,000 | |
| Vehicles | 35,000 | |
| Accumulated depreciation | 5,000 | |
| Accounts payable | 12,000 | |
| Interest payable | 200 | |
| Unearned revenue | 1,500 | |
| Note payable due September 30, 2025 | 30,000 | |
| Common stock | 5,000 | |
| Revenue | 50,000 | |
| Expenses | 42,700 | |
| Totals | 103,700 | 103,700 |
What was Mandrake's current ratio? (Round to one decimal place.)
What was Mandrake's profit margin? (Enter as a percentage rounded to one decimal place. Include the % sign. HINT: The decimal 0.25422) written as a percentage, one decimal place, is 25.4%)
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