Homework Answers
1. Current ratio = Current assets / Current liabilities
Current assets = $41000, Current liabilities = $23000
Putting these values in the above formula, we get,
Current ratio = $41000 / $23000 = 1.78
2. Quick ratio = Current assets – Inventory / Current liabilities
Current assets = $41000, Current liabilities = $23000, Inventory = $24000
Putting these values in the above formula, we get,
Quick ratio = ($41000 - $24000) / $23000
Quick ratio = $17000 / $23000 = 0.74
3. Debt ratio = Debt / Assets
Target debt ratio = 30%
Assets (given) = $400000
Putting these values in the above formula, we get,
30% = Debt / $400000
Debt = $400000 * 30% = $120000
So, required debt is $120000.
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