Gnas Corporation's total current assets are $210,000, its noncurrent assets are $590,000, its total current liabilities are $160,000, its long-term liabilities are $490,000, and its stockholders' equity is $150,000. The current ratio is closest to:
A) 1.31
B) 0.76
C) 0.33
D) 0.36

Question

Quizplus · Accepted Answer

Current ratio = Total current assets / Total current liabilities
Current ratio = ($210,000) / ($160,000) = 1.31

Gnas Corporation's Total Current Assets Are $210,000, Its Noncurrent Assets