Compute the current ratio for 2018. (Round answer to two decimal places.)
The financial statements for Barrington Service Company include the following items:
A) 1.15
B) 0.87
C) 3.83
D) 6.48
A) 1.15
Current Ratio = Total current assets / Total current liabilities
Current Ratio = (Cash $50,000 + Short-term Investments $19,000 + Net Accounts Receivable $46,000 +
Merchandise Inventory $48,000) / (Accounts Payable $127,000 + Salaries Payable $15,000)
Current Ratio = $163,000 / $142,000
Current Ratio = 1.15
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