A partial balance sheet ($s in thousands) for Captain D\'s Seafood Inc. is shown

Question

A partial balance sheet ($s in thousands) for Captain D's Seafood Inc. is shown below.

86

112

36

197

$800

$800

The current ratio is (Round your answer to 2 decimal places):

.67 times

2.66 times

1.20 times

1.60 times

  Assets:   Liabilities:   Cash $67   Accounts payable $248   Accounts receivable (net) 171   Other liabilities

86

  Notes receivable 59   Total current liabilities 334   Inventories 201   Long-term liabilities

112

  Prepaid expenses

36

    Total liabilities 446       Total current assets 534   Shareholders' equity:   Plant assets (net) 266   Capital stock 157   Retained earnings

197

  Total stockholders’ equity 354   Total assets

$800

  Total liabilities and equity

$800

Explanation / Answer

The current ratio =Total current assets/ Total current liabilities=534/334=1.598~1.60.

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