Exhibit 3.1
The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
-Refer to Exhibit 3.1.What is the firm's current ratio?
Definitions:
Market Maker
A firm or individual who actively quotes both buy and sell prices for financial instruments, contributing to liquidity and efficiency in the markets.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices during a given period.
Bid-ask Spread
The gap between the maximum price a buyer is ready to offer (bid) and the minimum price a seller agrees to sell (ask) for an asset.
Market Maker
A firm or individual that actively quotes both a buy and sell price in a financial market, providing liquidity and facilitating trading.
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