Use the Balance Sheet of Chicago, Inc $\quad$ $\quad$

question 8

Essay

Use the balance sheet of Chicago, Inc. to calculate the current ratio for 2019 and 2018
Chicago, Inc.
Comparative Balance Sheet
December 31,2019 and 2018
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$2019 \quad 2018$ Assets
$\begin{array}{lll}\text { Total Current Assets } & \$ 200,000 & \$ 100,000 \\\text { Property, Plant, and Equipment, Net } & 550,000 & 500,000 \\\text { Other Assets } & \underline{50,000} & \underline{50,000} \\\text { Total Assets } & \$ 800,000 & \$ 650,000\end{array}$
Liabilities
$\begin{array}{lll}\text { Total Current Liabilities } & \$ 150,000 & \$ 100,000 \\\text { Long-term Debt } & \underline{350,000} & \underline{250,000} \\\text { Total Liabilities } & \$ 00,000 & 350,000\end{array}$ Stockholders' Equity
$\begin{array}{lll}\text { Total Stockholders' Equity } & \underline{300,000} & \underline{300,000} \\\text { Total Liabilities and Stockholders' Equity } & \$ 800,000 & \$ 650,000\end{array}$

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Definitions:

Continuous Random Variables

Variables that can take an infinite number of values within a given range, for instance, weight or temperature.

Probability Distribution

A mathematical function that provides the probabilities of occurrence of various possible outcomes in an experiment.

Standard Deviation

An important measure in statistics that expresses the variability or spread of a dataset relative to its mean, indicating how spread out the data points are.

Random Variable

A variable representing numerical results from a stochastic process.