The Financial Statements of Midwest Tours Are Given Below

question 10

Multiple Choice

The financial statements of Midwest Tours are given below. Note: The common shares are trading in the stock market for $36 each.
Refer to the financial statements of Midwest Tours.The firm's current ratio for 2009 is

• A)1.82.
• B)1.03.
• C)1.30.
• D)1.65.

---

Definitions:

Accounts Payable

Liabilities of a business that represent amounts due to suppliers or creditors for goods and services received but not yet paid for.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Accrued Liabilities

Financial obligations that a company has incurred during a period but has not yet paid for, appearing on the balance sheet.

Operating Leases

Leases where the lessor retains significant risks and rewards of ownership, typically for assets that are used for a short period of the asset's life.