Homework Answers
Current liabilities = Accounts payable + Salaries payable
= 2,730+8,330
= $11,060
Current Assets = Cash + Accounts receivable + Prepaid expenses + Inventory
= 5,400+11,550+1,500+14,700
= $33,150
Current ratio = Current assets/Current liabilities
= 33,150/11,060
= 3
Third option is correct option.
Kindly comment if you need further assistance.
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