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Rock Construction has current assets of $45 million, total liabilities and equity of $67 million, and sales of $59 million. How would current assets be expressed on a common-size balance sheet?

Respuesta :

Answer:

current assets =  67%

Explanation:

given data

current assets = $45 million

total liabilities and equity = $67 million

sales = $59 million

solution

we get here current assets that is express as

current assets = [tex]\frac{current\ assets}{liability\ and\ equity}[/tex]    ......................1

put here value we get  current assets that express on common  size balance sheet is

current assets = [tex]\frac{45}{67}[/tex] Ă— 100

current assets = 0.6716 Ă— 100

current assets =  67%

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