| 32. Guinther & Sons, Inc. Guinther & Sons, Inc. a retailer of men's clothing, earned a net profit of $77,000 for 2014. The balance sheet for Guinther & Sons includes the following items: Cash $29,000 Accounts receivable $39,000 Inventory 79,000 Prepaid insurance $ 3,000 Land 90,000 Accounts payable $21,000 Taxes payable 29,000 Capital stock $50,000 Retained earnings 97,000 Long-term notes payable $43,000 Read the information for Guinther & Sons, Inc. Calculate the current ratio for Guinther & Sons. A. 2.58 to 1 B. 2.75 to 1 C. 3.00 to 1 D. 2.00 to 1 | |
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