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What is the current ratio for this company

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Question - The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets

Cash and short-term investments

$37,791

Accounts receivable (net)

26,748

Inventory

29,997

Property, plant and equipment

235,536

Total Assets

$330,072


Liabilities and Stockholders' Equity

Current liabilities

$64,306

Long-term liabilities

87,259

Stockholders' equity-common

178,507

Total Liabilities and stockholders' equity

$330,072

Income Statement

Sales

$91,903

Cost of goods sold

41,356

Gross margin

$50,547

Operating expenses

21,947

Net income

$28,600

Number of shares of common stock

6,040

Market price of common stock

$35

Required - What is the current ratio for this company?

Reference no: EM133150252

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