The Kretovich Company had a quick ratio of 1.1, a current ratio of 3.5, a days' sales outstanding of 36.5 days (based on a 365-day year), total current assets of $1,032,500, and cash and marketable securities of $105,000. What were Kretovich's annual sales? Do not round intermediate calculations. Round your answer to the nearest dollar.
The Kretovich Company had a quick ratio of 1.1, a current ratio of 3.5, a days' sales outstanding of 36.5 days (based on a 365-day year), total current assets of $1,032,500, and cash and marketable securities of $105,000. What were Kretovich's annual sales? Do not round intermediate calculations. Round your answer to the nearest dollar.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...
Related questions
Question
The Kretovich Company had a quick ratio of 1.1, a current ratio of 3.5, a days' sales outstanding of 36.5 days (based on a 365-day year), total current assets of $1,032,500, and cash and marketable securities of $105,000. What were Kretovich's annual sales? Do not round intermediate calculations. Round your answer to the nearest dollar.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub