$39,000 was Quentin's retained earnings balance on December 31, 2013.
Retained Earnings in the Beginning (December 31, 2013) =
2014 Retained Earnings - Net income =44,000-5,000 =39,000(Answer)
current Ratio = Current Assets / Current Liabilites =90,000 /72,000= 1.25
Calculating the outstanding balance is very simple. Simply divide the company's current assets by its current liabilities. Current Ratios are assets that can be converted into cash within one year, and current liabilities are liabilities expected to be repaid within one year.
current Ratio relate to the company's financial obligations to be paid within one year. A higher liquidity ratio is clearly advantageous for business. A good cash ratio is between 1.2 and 2. This means that the company has liquid assets twice as much as its liabilities to cover its liabilities.
Learn more about the current Ratio here: brainly.com/question/2686492
#SPJ4
