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28 October, 18:32

Gibson Goods has current assets, including cash and accounts receivable, of $377,000. It owes $190,000 in short-term debt, including trade credit and accounts payable. What is its current ratio?

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  1. 28 October, 18:57
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    Answer: 1.98

    Explanation:

    Current ratio = Current Asset/Current Liability

    Current ratio = $377,000/$190,000

    Current ratio = 1.98
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