Using the following balance sheet and income statement data for Castillo Company what is the company's current ratio? $$\begin{array} { l r l r }
\text { Current assets } & \$ 41,000 & \text { Net income } & \$ 48,000 \
\text { Current liabilities } & 22,000 & \text { Stockholders' equity } & 75,000 \
\text { Average assets } & 210,000 & \text { Total liabilities } & 125,000 \
\text { Total assets } & 200,000 & &
\end{array}$$
A)1:86: 1
B)2 times
C)186%
D)54%

Question

Using the following balance sheet and income statement data for Castillo Company what is the company's current ratio? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 41,000 & \text { Net income } & \$ 48,000 \
\text { Current liabilities } & 22,000 & \text { Stockholders' equity } & 75,000 \
\text { Average assets } & 210,000 & \text { Total liabilities } & 125,000 \
\text { Total assets } & 200,000 & &
\end{array}$$
A)1:86: 1
B)2 times
C)186%
D)54%

Quizplus · Accepted Answer

The Answer of Using the following balance sheet and income statement data for Castillo Company what is the company's current ratio? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 41,000 & \text { Net income } & \$ 48,000 \
\text { Current liabilities } & 22,000 & \text { Stockholders' equity } & 75,000 \
\text { Average assets } & 210,000 & \text { Total liabilities } & 125,000 \
\text { Total assets } & 200,000 & &
\end{array}$$
A)1:86: 1
B)2 times
C)186%
D)54%

Using the Following Balance Sheet and Income Statement Data for Castillo