Get correct answer this financial accounting question Alpha Tech Inc. has the following financial data:•.Cash (Bank Balance): $8Accounts Receivable: $10⚫ Inventory: $7.Accounts Payable: $5.Accrued Expenses: $3Required: Calculate AlphaTech Inc.'s current ratio and interpretthe result.

Step 1: Define Current RatioThe Current Ratio is a liquidity metric that measures a company's…

Answered: Alpha Tech Inc. has the following…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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The following items are reported on a company's balance sheet: Cash $283,200 Marketable securities 83,400 Accounts receivable 251,600 Inventory 185,700 Accounts payable 315,200 Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratio

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Alpha Tech Inc. has the following financial data: • . Cash (Bank Balance): $8 Accounts Receivable: $10 ⚫ Inventory: $7 . Accounts Payable: $5 . Accrued Expenses: $3 Required: Calculate AlphaTech Inc.'s current ratio and interpret the result.