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27 November, 22:17

Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 102,000 Investments 53,000 Plant assets 300,000 Current liabilities 44,000 Long-term liabilities 95,000 Retained earnings 316,000 Multiple Choice 3.52. 3.27. 1.12. 0.43. 2.32.

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  1. 27 November, 23:59
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    2.32

    Explanation:

    Current ratio is a financial ratio that shows how many times the company's current assets can be used to settle the company's current obligations.

    It is given as

    Current ratio = current asset/current liabilities

    Current assets = $102,000

    Current liabilities = $44,000

    Therefore,

    Current ratio = $ 102,000/$44,000

    = 2.32
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