The Financial Statements of Weston Office Supply Include the Following

question 144

Multiple Choice

The financial statements of Weston Office Supply include the following items: $$\begin{array} { l r r } & 2017 & 2016 \\\text { Cash } & \$ 43,500 & \$ 50,000 \\\text { Short-term Investments } & 27,000 & 17,000 \\\text { Net Accounts Receivable } & 102,000 & 97,000 \\\text { Merchandise Inventory } & 125,000 & 119,000 \\\text { Total Assets } & 527,000 & 554,000 \\\text { Total Current Liabilities } & 251,000 & 242,000 \\\text { Long-term Note Payable } & 59,000 & 51,000 \end{array}$$ What is 2017 current ratio? (Round your answer to two decimal places. )

• A)0.84
• B)0.56
• C)1.19
• D)1.70

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