In preparing a company’s statement of cash flows for the mos…

In preparing a company’s statement of cash flows for the most recent year, the following information is available:         Loss on the sale of equipment $ 14,000 Purchase of equipment   225,000 Proceeds from the sale of equipment   106,000 Repayment of outstanding bonds   87,000 Purchase of treasury stock   25,000 Issuance of common stock   96,000 Purchase of land   115,000 Increase in accounts receivable during the year   33,000 Decrease in accounts payable during the year   75,000 Payment of cash dividends   35,000 Net cash flows from investing activities for the year were:

Refer to the following selected financial information from P…

Refer to the following selected financial information from Port Elizabeth, LLC. Compute the company’s current ratio for Year 2.    Year 2   Year 1 Cash $ 37,500   $ 36,850   Short-term investments   90,000     90,000   Accounts receivable, net   85,500     86,250   Merchandise inventory   121,000     117,000   Prepaid expenses   12,100     13,500   Plant assets   388,000     392,000   Accounts payable   113,400     111,750   Net sales   711,000     706,000   Cost of goods sold   390,000     385,500