Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both...
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Accounting
Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.
Assets
Cash and short-term investments
$43,890
Accounts receivable (net)
31,775
Inventory
34,625
Property, plant, and equipment
285,759
Total assets
$396,049
Liabilities and Stockholders Equity
Current liabilities
$68,835
Long-term liabilities
89,834
Common stock, $10 par
62,460
Retained earnings
174,920
Total liabilities and stockholders equity
$396,049
Income Statement
Sales
$95,391
Cost of goods sold
42,926
Gross margin
$52,465
Operating expenses
23,650
Net income
$28,815
Number of shares of common stock
6,246
Market price of common stock
$26
What is the current ratio? Round your answer to two decimal places.
a. 0.64
b. 1.60
c. 2.22
d. 1.10
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