Question

The following financial statement information is available for Coronado Corporation: 2020 2019 Inventory $45000 $47000 Current assets 112000 102000 Total assets 429000 358000 Current liabilities 28000 35000 Total liabilities 100000 89000 The current ratio for 2020 is

Answer 1

4

Step-by-step explanation:

Calculation to determine the current ratio

Using this formula

Current ratio = Current assets / Current liabilities.

Current ratio = 112000 / 28000 = 4

Therefore Current ratio is 4