Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term...
Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term Liabilities 120,000 Inventory 21,000 Total Liabilities 160,000 Accounts Receivables 20,000 Total Current Assets 107,000 Total Owners' Equity 597,000 Fixed Assets 650,000 Total Assets 757,000 What is the firm’s current ratio and quick ratio in this order? 1.58; 2.68 2.68; 1.58 1.58; 2.15 2.68; 2.15
Homework Answers
D. 2.68; 2.15
Current ratio = Current assets / Current liabilities
Current ratio = $107,000 / $40,000
Current ratio = 2.68
Quick ratio = (Current assets - Inventory) / Current liabilities
Quick ratio = ($107,000 - $21,000) / $40,000
Quick ratio = 2.15
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