Jackson Company had the following selected information on th…
Jackson Company had the following selected information on their 20X1 balance sheet/income statement: Balance sheet Cash and cash equivalents $200,000Short-term investments $50,000Current assets $650,000Current liabilities $600,000Long-term debt $100,000Shareholders’ Equity $300,000 Income Statement Net income $95,000Interest expense $5,000Cost of goods sold $800,000Income taxes $15,000 The company does not have any noncontrolling interest. Calculate Jackson Company’s current ratio.
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