Author Question: The Barrett Corporations current assets were 1.7 million and current liabilities were 425,000. What ... (Read 110 times)

Starlight · **on:** Jun 24, 2018

The Barrett Corporations current assets were 1.7 million and current liabilities were 425,000. What is the current ratio?
A) 1:4
B) 2:1
C) 4:1
D) 8:1

Question 2

A company has net sales of 97,500, cost of goods sold of 37,000, gross profit of 60,500, total operating expenses of 12,675, and net income of 47,825. Rounded to the nearest tenth of a percent, what would the vertical analysis of the income statement have for total operating expenses?
A) 34.3
B) 26.5
C) 21.0
D) 13.0