Reference no: EM132590920
Question - The balance sheet for Altoid Co. is shown below.
ALTOID CO. Balance Sheet At December 31, 2021
Assets: Cash $190
Short-term investments 400
Accounts receivable (net) 500
Inventory 650
Property, plant, and equipment (net) 1,190
Total assets $2,930
Liabilities and shareholders' equity: Current liabilities $650
Long-term liabilities 800
Common stock 350
Retained earnings 1,130
Total liabilities and shareholders' equity $2,930
Selected 2021 income statement information for Altoid Co. includes:
Net Sales $8,100
Operating expenses 7,250
Income before interest and tax 850
Interest expense 100
Income tax expense 225
Net income $525
Required - Compute the following financial statement ratios for 2021: Altoid Co.'s current ratio.