The Following Balance Sheet Information Is Provided for Duke Company

question 20

Multiple Choice

The following balance sheet information is provided for Duke Company for Year 2: $\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 5,400 \\\text { Accounts receivable } & 15,500 \\\text { Inventory } & 18,000 \\\text { Prepaid expenses } & 1,600 \\\text { Plant and equipment, net of depreciation } & 20,200 \\\text { Land } & \underline{ 19,950 }\\\text { Total assets } &\underline{ \$ 80,650}\\\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } & \$ 4,500 \\\text { Salaries payable } & 11,500 \\\text { Bonds payable (Due in ten years) } & 19,000 \\\text { Common stock, no par } & 30,000 \\\text { Retained earnings } &\underline{ 15,650} \\\text { Total liabilities and stockholders' equity }& \$ 80,650\end{array}$
What is the company's current ratio? (Round your answer to 2 decimal places.)

Recognize the difference between social institutions and bureaucracies.

Appreciate the nature and function of statuses and roles within society.

Understand the concept and implications of resocialization and total institutions.

Analyze the phenomenon of the McDonaldization of society.

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Definitions:

Micromanagement

Micromanagement is a management style characterized by excessive control or attention to details, often resulting in a lack of autonomy for subordinates.

Interpersonal Relations

The connections and interactions between two or more people, often analyzed in a social or work context.

Organization

A systematic arrangement of people and resources designed to achieve a specific purpose or set of goals.

Emotional Impacts

The effects of experiences or events on an individual's feelings and emotional state.