Guinther & Sons,Inc. ,a retailer of men's clothing,earned a net profit of $77,000 for 2017.The balance sheet for Guinther & Sons includes the following items:

$$\begin{array} { l r l r }
\text { Cash } & \$ 29,000 & \text { Accounts receivable } & \$ 39,000 \
\text { Inventory } & 79,000 & \text { Prepaid insurance } & 3,000 \
\text { Land } & 90,000 & \text { Accounts payable } & 21,000 \
\text { Taxes payable } & 29,000 & \text { Capital stock } & 50,000 \
\text { Retained earnings } & 97,000 & \text { Long-term notes payable } & 43,000
\end{array}$$
-Read the information for Guinther & Sons,Inc.Calculate the current ratio for Guinther & Sons.

Question

Guinther & Sons,Inc. ,a retailer of men's clothing,earned a net profit of $77,000 for 2017.The balance sheet for Guinther & Sons includes the following items:
 
 $$\begin{array} { l r l r } 
\text { Cash } & \$ 29,000 & \text { Accounts receivable } & \$ 39,000 \
\text { Inventory } & 79,000 & \text { Prepaid insurance } & 3,000 \
\text { Land } & 90,000 & \text { Accounts payable } & 21,000 \
\text { Taxes payable } & 29,000 & \text { Capital stock } & 50,000 \
\text { Retained earnings } & 97,000 & \text { Long-term notes payable } & 43,000
\end{array}$$  
-Read the information for Guinther & Sons,Inc.Calculate the current ratio for Guinther & Sons.

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The Answer of 
Guinther & Sons,Inc. ,a retailer of men's clothing,earned a net profit of $77,000 for 2017.The balance sheet for Guinther & Sons includes the following items:
 
 $$\begin{array} { l r l r } 
\text { Cash } & \$ 29,000 & \text { Accounts receivable } & \$ 39,000 \
\text { Inventory } & 79,000 & \text { Prepaid insurance } & 3,000 \
\text { Land } & 90,000 & \text { Accounts payable } & 21,000 \
\text { Taxes payable } & 29,000 & \text { Capital stock } & 50,000 \
\text { Retained earnings } & 97,000 & \text { Long-term notes payable } & 43,000
\end{array}$$  
-Read the information for Guinther & Sons,Inc.Calculate the current ratio for Guinther & Sons.

Guinther & Sons,Inc -Read the Information for Guinther & Sons,Inc