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A company has a current ratio of 1.75, total liabilities of $250,000, long-term debt of $120,000 (the only long-term liability), and a quick ratio of 0.85. What are the total current assets for the company?

A company has a current ratio of 1.75, total liabilities of $250,000, long-term debt of $120,000 (the only long-term liability), and a quick ratio of 0.85. What are the total current assets for the company?

Intermediate Financial Management (MindTap Course List)
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 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...
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A company has a current ratio of 1.75, total liabilities of $250,000, long-term debt of $120,000 (the only long-term liability), and a quick ratio of 0.85. What are the total current assets for the company?
Transcribed Image Text:A company has a current ratio of 1.75, total liabilities of $250,000, long-term debt of $120,000 (the only long-term liability), and a quick ratio of 0.85. What are the total current assets for the company?
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