A company has current assets of $587,000 and current liabilities of $228,000. The board of directors declares a cash dividend of $170,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?..

Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.3E
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A company has current assets of $587,000 and current liabilities of $228,000. The board of directors declares a cash dividend of $170,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?..

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