Using the Following Balance Sheet and Income Statement Data, What

question 120

Multiple Choice

Using the following balance sheet and income statement data, what is the current ratio? $$\begin{array} { l c l l } \text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \\\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \\\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000 \\\text { Total assets } & 120,000 & & \\\text { Average common shares outstanding was } 15,000 .\end{array}$$

• A)2.0 : 1
• B)2.6 : 1
• C)0.5 : 1
• D)2.9 : 1

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Definitions:

Asperger's Syndrome

A developmental disorder affecting ability to effectively socialize and communicate.

ADHD

Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsivity.

Inattention

A lack of focus, neglect, or failure to pay attention to tasks or details.

Hyperactivity

A condition characterized by excessive movement, impulsiveness, and difficulty in maintaining attention, often associated with attention deficit hyperactivity disorder (ADHD).