Mobile Company Mobile Company manufactures computer technology devices.Selected financial data for Mobile is presented below,use the information to answer the following questions:
Refer to the information for Mobile Company.Mobile's current ratio in 2010 was
A) 1.07
B) 1.45
C) 1
D) .69

Question

Mobile Company Mobile Company manufactures computer technology devices.Selected financial data for Mobile is presented below,use the information to answer the following questions:
   Refer to the information for Mobile Company.Mobile's current ratio in 2010 was
A) 1.07 
B) 1.45 
C) 1 
D) .69

Quizplus · Accepted Answer

Current ratio = Current assets / Current liabilities 
For Mobile Company in 2010: 
Current assets = 8,585 + 5,035 = 13,620 
Current liabilities = 6,315 + 1,459 + 2,734 = 10,508 
Current ratio = 13,620 / 10,508 = 1.30 
Therefore, the closest answer is B) 1.45.

Mobile Company Mobile Company Manufactures Computer Technology Devices