Data from Dunshee Corporation's Most Recent Balance Sheet Appear Below

question 50

Multiple Choice

Data from Dunshee Corporation's most recent balance sheet appear below:
$\begin{array}{lrr}&\text { Year 2 } & \text { Year 1 } \\\text { Current assets: }\\\text { Cash}&\$ 130 & \$ 100 \\\text { Accounts receivable, net.}&270 & 290 \\\text {Inventory }&90 & 110 \\\text {Prepaid expenses }&10 & 10\\\text { Total current assets. }&\$500&\$510\\\text { Total current liabilities }&\$230&\$220\end{array}$ Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730.
-The current ratio at the end of Year 2 is closest to:

• A) 0.38
• B) 2.17
• C) 0.94
• D) 0.40

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