Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable($45,000), Capital...
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Accounting
Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable($45,000), Capital stock($100,000), Cash ($50,000), Dividends($10,000), Goodwill($47,000), interest expense($4,000), Interest payable($2,000), Inventory($32,000), Notes payable($80,000), prepaid expenses($5,000), Property, plant and equipment($123,000), Retained earnings($46,000), Rent expenses($18,000), Revenues ($101,000), and Salary expense($60,000). The note payable balance is not due for many years, although interest is paid annually. How much is conners CURRENT ratio?
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