Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 38,700 102,000 91,500 127,000 13,300 394,000 107,400 717,000 396,000 Year 1 $ 33,450 66,000 85,500 131,000 10,900 344,000 113,800 682,000 381,000

Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 38,700 102,000 91,500 127,000 13,300 394,000 107,400 717,000 396,000 Year 1 $ 33,450 66,000 85,500 131,000 10,900 344,000 113,800 682,000 381,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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