Kingery Corporation Has Current Assets of $1,800,000 and Current Liabilities

question 167

Multiple Choice

Kingery Corporation has current assets of $1,800,000 and current liabilities of $750,000. If they issue $100,000 of new stock what will their new current ratio be? (rounded)

• A) 2.5:1
• B) 2.1:1
• C) 2.3:1
• D) 2.4:1

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Definitions:

Paleolithic Art

Art created during the Paleolithic era, characterized by cave paintings, carvings, and other primitive forms of artistic expression.

Composite Creature

A mythical being that is made up from parts of different animals or humans, often found in various cultures' mythologies and art.

Foreshortening

The use of perspective to represent in art the apparent visual contraction of an object that extends back in space at an angle to the perpendicular plane of sight.

Linear Perspective

See perspective.