Homework Answers
Cash Ratio for 2016
Cash Ratio for 2016 = Total cash & cash equivalents / Total current liabilities
= [Cash + Cash Equivalents] / [Accounts payable + Salaries payable]
= [$51,000 + $20,000] / [$44,500 + $20,000]
= $71,000 / $64,500
= 1.10
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