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Pilgrim Products reported the following amounts in its 2010 financial statements. The 2018 amounts we given for comparison (C
i Data Table 2019 2018 Current assets: ati Cash $ 9,850 $ 9,850 0.92? S 16,500 Short-term investments Accounts receivable 13,
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Answer #1
Quick Ratio = (Cash + Short Term Investment + Net Current Receivables) / Current Liabilities
= ($ 9850 + $ 16500 + $ 79000) / $ 107500
= $ 105350 / $ 107500
= 0.98
As compared to the industry's quick ratio of 0.92, the company is having a stronger quick ratio. It means company's
liquidity position is stronger than that of the industry's.
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