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The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.20202021Current ...

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The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.20202021Current ...

The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.

2020

2021

Current assets
Cash and cash equivalents	$ 16,000	$ 14,000
Accounts receivable, net	20,000	24,000
Inventory	25,000	23,000
Marketable equity securities	5,000	5,000
Total current assets	66,000	66,000
Plant & equipment, net	60,000	40,000
Total assets	$126,000	$106,000

Current liabilities	$ 20,000	$ 30,000
Noncurrent liabilities	60,000	40,000
Total liabilities	80,000	70,000
Total stockholders' equity	46,000	36,000
Total liabilities and stockholders' equity	$126,000	$106,000

Calculate the current ratio for 2021.

▸ 2.20

▸ 0.47

▸ 1.37

▸ 0.62

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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ryanolson41 Author

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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Brilliant ツ

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Thanks for your help!!

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