The following balance sheet information is provided for duke company for year 2: assets cash $ 5,400 accounts receivable 15,500 inventory 18,000 prepaid expenses 1,600 plant and equipment, net of depreciation 20,200 land 19,950 total assets $ 80,650 liabilities and stockholders' equity accounts payable $ 4,500 salaries payable 11,500 bonds payable (due in ten years) 19,000 common stock, no par 30,000 retained earnings 15,650 total liabilities and stockholders' equity $ 80,650 what is the company's current ratio?

2.52

Explanation: Current ratio is a liquidity ratio that is used by analyst to evaluate whether the subject firm has enough resources to meet its short term nature obligations. It is computed by using following formula :-

where,

current assets = $5400 + $15,500 + $18,000 + $1600 = $40,500

current liabilities = $4500 + $11,500 = $16,000

putting the values into equation we get :-

= 2.52

whats the

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.