I was given this information for a question on my assignment:
Selected year-end financial statements of McCord Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31
2010 were inventory $55900; total assets $209400; common stock $115000; and retained earnings $51948.)
I am supposed to find the current ratio for the two years (2010 and 2011). I understand that the current ration is current assets/current
liabilities but how do I find the current liabilities for the year 2010 without all of the information?