Use the Following Data to Calculate the Current Ratio A)234 : 1
B)2

question 52

Multiple Choice

Use the following data to calculate the current ratio. Eddy Auto Supplies
Balance Sheet
December 31, 2017
$\begin{array}{lrlr}\text { Cash } & \$ 126,000 & \text { Accounts payable } & \$ 165,000 \\\text { Accounts receivable } & 120,000 & \text { Salaries and wages payable } & 30,000 \\\text { Inventory } & 210,000 & \text { Mortgage payable } & 270,000\\\text { Prepaid insurance } & 90,000 & \text { Total liabilities } &\$465,000\\\text { Stock investments } & 255,000 & \\\text { Land } & 285,000 &\\\text { Buildings }\quad\$339,000&&\text { Common stock } & \$ 360,000 \\\text { Less: Accumulated }&&\text { Retained earnings } & 750,000\\\text { depreciation }\quad(60,000) &279,000&\text { Total stockholders' equity }&\$1,110,000\\\text { Trademarks }&210,000&\text { Total liabilities and }\\\text { Total assets }&\$1,050,000&\text { stockholders' equity }&\$1,575,000\end{array}$

• A)2.34 : 1
• B)2.80 : 1
• C)3.31 : 1
• D)1.26 : 1

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Definitions:

Racial Injustice

Inequitable treatment or discrimination against individuals or groups based on race, affecting opportunities, access to resources, and societal participation.

Colorblindness

The assertion or policy of ignoring racial characteristics, which can overlook systemic inequalities and hinder the recognition of diverse identities.

Polluted Air

The presence of harmful or excessive quantities of substances, including gases, particulates, and biological molecules in the Earth's atmosphere, causing health and environmental issues.

Racism

Bias, unfair treatment, or hostility towards an individual from another race, stemming from the conviction that one's own race is superior.