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Compute the Altoid Cos current ratio

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Question - The balance sheet for Altoid Co. is shown below.

ALTOID CO. Balance Sheet At December 31, 2021

Assets: Cash $190

Short-term investments 400

Accounts receivable (net) 500

Inventory 650

Property, plant, and equipment (net) 1,190

Total assets $2,930

Liabilities and shareholders' equity: Current liabilities $650

Long-term liabilities 800

Common stock 350

Retained earnings 1,130

Total liabilities and shareholders' equity $2,930

Selected 2021 income statement information for Altoid Co. includes:

Net Sales $8,100

Operating expenses 7,250

Income before interest and tax 850

Interest expense 100

Income tax expense 225

Net income $525

Required - Compute the following financial statement ratios for 2021: Altoid Co.'s current ratio.

Reference no: EM132590920

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