The financial statements of Trenton Office Supply include the following items:

What is the 2019 current ratio? (Round your answer to two decimal places. )

Question

The financial statements of Trenton Office Supply include the following items:

What is the 2019 current ratio? (Round your answer to two decimal places. )

Quizplus · Accepted Answer

C)Current Ratio = Total current assets / Total current liabilities
Current Ratio = (Cash $47,500 + Short-term Investments $24,000 + Net Accounts Receivable $102,000 + Merchandise Inventory $127,000)/ $253,000
Current Ratio = $300,500 / $253,000
Current Ratio = 1.19

The Financial Statements of Trenton Office Supply Include the Following