Link to TextThese selected condensed data are taken from a recent balance sheet of Sanson Company (in millions of dollars). Cash$7.2Accounts receivable14.4Inventory18.0Other current assets11.1Total current liabilities$24.8 Additional information: Current liabilities at the beginning of the year were $35.6 million. Solution Total current assets=Cash+AR+Inventory+AR =(7.2+14.4+18+11.1)=$50.7 1.WC=Total current assets-Total current liabilities =(50.7-24.8)=$25.9 million 2.Current ratio=Total current assets/Total current liabilities =(50.7/24.8)=2.04:1(Approx)..