Answer:
Kingbird, Inc.
Current Ratio = Current Assets/Current Liabilities
= $406,000/$147,800
= 2.75
Explanation:
a) Data and Calculations:
Kingbird, Inc. Balance Sheet December 31, 2022
Cash and cash equivalents $68000  Accounts payable      $135500
Accounts receivable       103500  Salaries & wages payable 12300
Inventory                144500   Bonds payable         166000
Prepaid insurance         90000   Total liabilities         $313800
Stock investments         181500
Land                   195000
Buildings     $225000            Common stock      $239200
Less: Accumulated
  depreciation (64000)   161000    Retained earnings     502500
Trademarks             112000  Total stockholders' equity $741700
Total assets          $1055500  Total liabilities and stockholders'
                                           equity $1055500
Current Assets:
Cash and cash equivalents $68,000
Accounts receivable       103,500
Inventory                144,500
Prepaid insurance         90,000
Total current assets     $406,000
Current Liabilities:
Accounts payable      $135,500
Salaries & wages payable  12,300
Total current liabilities  $147,800 Â
