aynard Boats Inc., presented the following information for the year ending Year 6. Baynard Boats, Inc. Balance Sheet December 31, Year 6 Cash $55,000 Accounts Payable $175,000 Marketable Securities 105,000 Mortgage Payable 140,000 Account Receivable 175,000 Notes Payable 165,000 Inventory 250,000 Common Stock 160,000 Plant Assets, net 220,000 Retained Earnings 165,000 $805,000 $805,000 1. Compute the quick ratio/acid test ratio. Round your answer to two decimal places. fill in the blank 1 2. Compute the current ratio. Round your answer to two decimal places. fill in the blank 2

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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aynard Boats Inc., presented the following information for the year ending Year 6. Baynard Boats, Inc. Balance Sheet December 31, Year 6 Cash $55,000 Accounts Payable $175,000 Marketable Securities 105,000 Mortgage Payable 140,000 Account Receivable 175,000 Notes Payable 165,000 Inventory 250,000 Common Stock 160,000 Plant Assets, net 220,000 Retained Earnings 165,000 $805,000 $805,000 1. Compute the quick ratio/acid test ratio. Round your answer to two decimal places. fill in the blank 1 2. Compute the current ratio. Round your answer to two decimal places. fill in the blank 2
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