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<p margin-bottom:0in;margin-bottom:.0001pt;line-height:normal”=”” style=”box-sizing: border-box; margin: 0px 18px 20px; line-height: 23.1px; word-break: break-word; overflow-wrap: break-word; word-wrap: break-word;”>Selected information for Alastair Company is as follows:
| 2012 | |
| Current assets | $450,000 |
| Total assets | 725,000 |
| Cost of goods sold | 700,000 |
| Sales revenue | 915,000 |
| Net income | 145,000 |
What is the percentage that would be given to current assets on a common-size balance sheet (round to the nearest percent)?
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| 20 percent
77 percent 100 percent 49 percent |
Expert Answer
D. 49 percent
The percentage that would be given to current assets on a common-size balance sheet is:
= Current assets / Sales revenue
= $450,000 / $915,000
= 49%
