Sports Ltd Reports the Following Information If Current Assets Represent 60% of Total Assets, Sports Ltd's

question 38

Multiple Choice

Sports Ltd reports the following information: $\begin{array}{lr}\text { Net profit } & \$ 30,000 \\\text { Total assets } & 950,000 \\\text { Current liabilities } & 285,000 \\\text { Deferred liabilities } & 405,000\end{array}$ If current assets represent 60% of total assets, Sports Ltd's current ratio is:

• A)150%
• B)67%
• C)200%
• D)50%