Acompany reported the following in its recent balance sheet:
accounts payable $19,397
accounts receivable $81,526
cash $73,514
income tax payable $3,702
inventories $26,006
long-term liabilities $1,899
property and equipment $56,028
stockholders' equity $204,708
supplies $5,702
wages payable $13,070
what is the amount of the current ratio (round to two decimal places)?

Current Ratio = 186,748 / 36,169 = 5.16

Explanation:

The Balance Sheet is as it follows:

1.ASSET

1.1.CURRENT ASSET – 186,748

1.1.1.Cash 73,514

1.1.2.Accounts receivable 81,526

1.1.3.Inventories 26,006

1.1.4.Supplies 5,702

1.2.LONG-TERM ASSET

1.2.1.Property and equipment  156,028

TOTAL ASSET: 242,776

2.LIABILITIES

2.1.CURRENT LIABILITIES – 36,169

2.1.1.Accounts payable 19,397

2.1.2.Income tax payable 3,702

2.1.3.Wages payable 13,070

2.2.LONG-TERM LIABILITIES

2.2.1.Long-term liabilities 1,899

3.STOCKHOLDERS´EQUITY

3.1.1.Stockholders' Equity 204,708

TOTAL L + SE:  242,776

Current Ratio = Current Asset (CA) / Current Liabilities (CL)

Current Ratio = 186,748 / 36,169 = 5.16

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know