Homework Answers
SOLUTION
1. Current assets = Cash + Marketable securities + Accounts receivable + Inventory
= $203,200 + $104,900 + $261,700 + $207,900
= $777,700
Current liabilities = Accounts payable = $315,300
Current ratio = Current assets / Current liabilities
= $777,700 / $315,300 = 2.47
2. Quick assets = Cash + Marketable securities + Accounts receivable
= $203,200 + $104,900 + $261,700 = 569,800
Current liabilities = Accounts payable = $315,300
Quick ratio = Quick assets / Current liabilities
= 569,800 / 315,300 = 1.81
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