Homework Answers
Current assets = Cash + Accounts receivable + Supplies + Merchandise inventory
= $1,000 + $2,000 + $200 + $500
= $3,700
Current liabilities = Accounts payable + Wages payable
= $700 + $300
= $1,000
Current ratio = Current assets / Current liabilities
= $3,700 / $1,000
= 3.7
The answer is 3.7 to 1
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