Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both...
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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 $ 40,000 Cash and short-term investments Accounts receivable (net) 30,000 25.000 Inventory Property, plant, and equipment 215.000 Total assets $310,000 Liabilities and Stockholders' Equity Current liabilities $ 60,000 Long-term liabilities 95,000 Stockholders' equity Common Total liabilities and stockholders' equity 155.000 $310,000 Income Statement $90,000 Sales Cost of goods sold Grous margin 45.000 $45,000 20.000 $25,000 Operating expenses Net Income Income Statement Sales $90,000 Cost of goods sold 45,000 Gross margin Operating expenses $45,000 20,000 $25,000 Net income Number of shares of common stock 6,000 Market price of common stock $20 What is the current ratio? a. 1.58 O b. 1.42 c. 1.17 d. 0.67
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