Wildhorse Electronics has a quick ratio of 1.15, current liabilities of $5,317,000, and inventories of $8,554,100....
Wildhorse Electronics has a quick ratio of 1.15, current
liabilities of $5,317,000, and inventories of $8,554,100. What is
the firm’s current ratio? (Round answer to 2 decimal
places, e.g. 12.25.)
| Current ratio |
|
Homework Answers
quick ratio=(Current assets-inventory)/current liabilities
1.15=(Current assets-8,554,100)/5,317,000
Current assets=(1.15*5,317,000)+8,554,100
=$14668650
Current ratio=Current assets/current liabilities
=14668650/5,317,000
=2.76(Approx).
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