The following items are reported on a company's balance sheet: Cash $701,800 Marketable securities 548,300 Accounts receivable (net) 620,400 Inventory 322,500 Accounts payable 645,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a.  Current ratio fill in the blank 1 b.  Quick ratio fill in the blank 2

Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 17BEA: Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of...
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The following items are reported on a company's balance sheet:

Cash $701,800
Marketable securities 548,300
Accounts receivable (net) 620,400
Inventory 322,500
Accounts payable 645,000

Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

a.  Current ratio fill in the blank 1
b.  Quick ratio fill in the blank 2

 

 

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