Swanson Company Has a Current Ratio of 2 How Much Are the Company's Current Liabilities on December 31

question 68

Multiple Choice

Swanson Company has a current ratio of 2.1 and the following assets on December 31, 2017: $\begin{array}{lr}\text { Cash } & \$ 98,500 \\\text { Accounts receivable, net } & 499,700 \\\text { Inventory } & 960,000 \\\text { Prepaid expenses } & 23,100 \\\text { Equipment, net } & \underline{2,284,800} \\\text { Total assets } & \$ 3,866,100\end{array}$ How much are the company's current liabilities on December 31, 2017?

• A)$285,000
• B)$742,000
• C)$753,000
• D)$1,841,000

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