Answer Happy

Corsig Corporation had the following comparative current assets and current liabilities: Current assets Cash Debt investments Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accounts payable Salaries and wages payable Income tax payable Dec. 31, 2021 $25,000 40,000 60,000 110,000 35,000 $270,000 $120,000 40.000 10,000 Dec. 31, 2020 $30,000 10,000 90,000 90.000 25,000 $245,000 $110,000 30.000 15,000 T
WileyPLUS Homework Assignment #7 - Chapters 10 and 11 Question 7 of 7 < > Income tax payable Total current liabilities (a) 10,000 $170,000 Current ratio During 2021, net credit sales and cost of goods sold were $570,000 and $350,000, respectively. Net cash provided by operating activities for 2021 was $140,000. Compute current ratio for 2021. (Round answer to 2 decimal places, eg.2.25) eTextbook and Media 15,000 $155,000 :1 -/6 111 ***