The following information pertains to Swifty Company. Assume that all balance sheet amounts represent both...
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Accounting
The following information pertains to Swifty Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 48000 Accounts receivable (net) 32000 Inventory 20000 Property, plant and equipment (net) 204000 Total Assets $304000 Liabilities and Stockholders Equity Current liabilities $ 50000 Long-term liabilities 92000 Stockholders' equity-common 162000 Total Liabilities and Stockholders' $304000 Equity Income Statement Sales (net) $ 115000 Cost of goods sold Gross profit Operating expenses 70000 45000 28000 Sales (net) $ 115000 Cost of goods sold Gross profit Operating expenses Net income 70000 45000 28000 $ 17000 Number of shares of common stock Market price of common stock Dividends per share 8000 $22 0.60 What is the current ratio for Swifty? 1.36 1.60 0.50 2.00
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