Reference no: EM132276669
Question - A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account balances are normal):
Accounts payable - $38,000, Accounts receivable - $58,500, Capital stock - $100,000, Cash - $48,000, Dividends - $10,000, Goodwill - $47,000, Interest expense - $4,000, Interest payable - $4,700, Inventory - $32,000, Note payable - $15,000, Prepaid expenses - $5,800, Property, plant & equipment - $123,000, Retained earnings - $46,000, Rent expense - $18,000, Revenues - $101,000 and Salary expense - $60.000.
The note payable balance is due in nine months. How much is Charlie's current ratio?
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