Nunn Company Reported the Following Data What Was the Current Ratio?
A) 0

question 30

Multiple Choice

Nunn Company reported the following data: $$\begin{array} { | l | r | } \hline \text { Quick Assets } & \$ 55,000 \\\hline \text { Current assets } & 150,000 \\\hline \text { Total Liabilities } & 12,600 \\\hline \text { Average net receivables } & 107,600 \\\hline \text { Beginning inventory } & 38,000 \\\hline \text { Long-term liabilities } & 200,000 \\\hline \text { Net credit sales } & 126,000 \\\hline \text { Cost of goods sold } & 84,000 \\\hline \text { Ending inventory } & 46,000 \\\hline\end{array}$$ What was the current ratio?

• A) 0.5 to 1
• B) 0.75 to 1
• C) 1.5 to 1
• D) 2.5 to 1

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