Gros-Morne Inc What Is Their Current Ratio?
A)1

question 79

Multiple Choice

Gros-Morne Inc.has the following assets and liabilities on their balance sheet: $$\begin{array} { l l } \text { Cash and temporary investments } & \$ 25,000 \\\text { Accounts receivable } & 125,000 \\\text { Inventory } & 225,000 \\\text { Capital assets (net) } & 462,500 \\\text { Accounts payable } & 115,000 \\\text { Other payables } & 138,000 \\\text { Bonds payable } & 100,000\end{array}$$ What is their current ratio?

• A)1.06
• B)1.48
• C)2.37
• D)3.31

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