The Following Balance Sheet Information Is Provided for Duke Company

question 85

Multiple Choice

The following balance sheet information is provided for Duke Company for Year 2: $\begin{array}{|l|r|}\hline \text { Cash } & \$\quad 5,400 \\\hline \text { Accounts receivable } & 15,500 \\\hline \text { Inventory } & 18,000 \\\hline \text { Prepaid expenses } & 1,600 \\\hline \text { Pant and equipment, net of depreciation } & 20,200 \\\hline \text { Land } & \underline { 19950 }\\\hline \text { Total assets } & \underline { \$ \quad 80,650 }\\\hline\\\hline \text { Liabilities and Stockholders' Equity }\\\hline\text { Accounts payable } & \$ \quad 4,500 \\\hline\text { Salaries payable } & 11,500 \\\hline \text { Bonds payable (Due in 2020) } & 19,000 \\\hline \text { Common stock, no par } & 30,000 \\\hline \text { Retained earnings } & \underline { 15,650}\\\hline \text { Total liabilities and stockholder' equity } & \underline { \$ \quad 80,650}\\\hline\end{array}$ What is the company's current ratio (rounded to two decimal points) ?

• A) 1.16
• B) 1.31
• C) 2.53
• D) 3.79

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Definitions:

Months of Age

The measurement of age in terms of months, often used in developmental studies and pediatric assessments to provide more precise tracking of developmental milestones.

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Objects designed for play, typically used by children, that stimulate imagination, physical coordination, or cognitive skills.

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The process by which individuals look to others in their environment for cues on how to react or behave in unfamiliar situations.

Emotional Decoding

The ability to understand and interpret the emotional content of others' verbal and non-verbal messages.