The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions...

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The top part of Ramakrishnan, Inc.s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 20 Calculate Ramakrishnan, Inc.s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) Quick ratio 2021 time

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Answer 1

Answer #1

1. Current ratio = Current assets / Current liabilities

For 2021:

Current assets = $439, Current liabilities = $209

Current ratio = $439 / $209 = 2.10

For 2020:

Current assets = $396, Current liabilities = $189

Current ratio = $396 / $189 = 2.10

2. Quick ratio = Current assets – Inventories / Current liabilities

For 2021:

Current assets = $439, Current liabilities = $209, Inventories = $220

Quick ratio = ($439 - $220) / $209 = 2.10

Quick ratio = $219 / $209 = 1.05

For 2020:

Current assets = $396, Current liabilities = $189, Inventories = $201

Quick ratio = ($396 - $201) / $189 = 2.10

Quick ratio = $195 / $189 = 1.03

3. Cash ratio = Cash & marketable securities / Current liabilities

For 2021:

Cash & marketable securities = $62, Current liabilities = $209

Cash ratio = $62 / $209 = 0.3

For 2020:

Cash & marketable securities = $53, Current liabilities = $189

Cash ratio = $53 / $189 = 0.28

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