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Partially correct answer. Your answer is partially correct. Try again. Grouper Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. GROUPER COMPANY BALANCE SHEET DECEMBER 31, 2017 Cash $40,600 Accounts payable $72,900 Receivables 72,100 Mortgage payable 141,200 Inventory 92,800 Common stock ($1 par) 147,700 Plant assets (net) 236,900 Retained earnings 80,600 $442,400 $442,400 The net income for 2017 was $23,700. Assume that total assets are the same in 2016 and 2017. Compute each of the following ratios.

(Round answers to 2 decimal places,)

(a) Current ratio Entry field with correct answer

(b) Acid-test ratio Entry field with correct answer

(d) Return on assets Entry field with incorrect answer now contains modified data %

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91979305

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