Homework Answers
Current ratio = Current assets / Current liabilities
Current assets = Cash + Notes receivables + accounts receivable + inventory
Current assets = $19000 + $35000 + $48400 + $70600 = $173000
Current liabilities = $108400
Now, putting these values in the current ratio formula, we get,
Current ratio = $173000 / $108400 = 1.5959 or 1.6
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