The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both...
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Accounting
The following information pertains to Tanzi 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
$38,446
Accounts receivable (net)
25,630
Inventory
27,979
Property, plant and equipment
280,511
Total Assets
$372,566
Liabilities and Stockholders' Equity
Current liabilities
$64,364
Long-term liabilities
88,526
Stockholders' equity-common
219,676
Total Liabilities and stockholders' equity
$372,566
Income Statement
Sales
$85,063
Cost of goods sold
38,278
Gross margin
$46,785
Operating expenses
22,485
Net income
$24,300
Number of shares of common stock
6,671
Market price of common stock
$29
What is the current ratio for this company? Round your answer to two decimal places.
Select the correct answer.
1.43
0.60
1.00
2.22
Answer & Explanation
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