Barkley Company provided the following information: Line Item Description Amount Current assets: Cash $14,317,500 Accounts receivable 10,051,000 Inventories 8,965,000 Total current assets $33,333,500 Current liabilities $17,930,000 Note: Round answers to one decimal place. 1. Compute the current ratio. fill in the blank 1 of 1 2. Compute the quick (acid-test) ratio. fill in the blank 1 of 1

Barkley Company provided the following information: Line Item Description Amount Current assets: Cash $14,317,500 Accounts receivable 10,051,000 Inventories 8,965,000 Total current assets $33,333,500 Current liabilities $17,930,000 Note: Round answers to one decimal place. 1. Compute the current ratio. fill in the blank 1 of 1 2. Compute the quick (acid-test) ratio. fill in the blank 1 of 1

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 41E

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