Homework Answers
Answer
- Correct Answer = Option #1: Non Current Liabilities are $ 133,260 is NON CORRECT statement.
- Calculation of correct non current liabilities.
>Current ratio = Current assets/Current liabilities
Current Liabilites = Current assets / Current ratio
= $ 1818796 / 2.8
= $ 649,570
>Non Current Liabilities = Total Liabilities – Current liabilities
= 802540 – 649570
= $ 152,970 (not $ 133260)
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