CashShort-term investmentsReceivables (net)InventoryTotal current liabilities(a)December 31, 2020$40,40020,300113,37578,070105,500Current ratioDecember 31, 2019$32,70018,400During 2020, net sales were $1,441,125, and cost of goods sold was $1,091,775.:192,50067,50091,500Compute the current ratio at December 31, 2020. (Round answer to 2 decimal places, e.g. 15.25.)

The ratio analysis helps to analyze the Financial statements of the business. The current ratio is…

Cash Short-term investments Receivables (net) Inventory Total current liabilities December 31, 2020 $40,400 20,300 113,375 78,070 105,500 (a) December 31, 2019 $32,700 18,400 92,500 67,500 91,500 During 2020, net sales were $1,441,125, and cost of goods sold was $1,091,775. Compute the current ratio at December 31, 2020. (Round answer to 2 decimal places, e.g. 15.25.)

Cash Short-term investments Receivables (net) Inventory Total current liabilities December 31, 2020 $40,400 20,300 113,375 78,070 105,500 (a) December 31, 2019 $32,700 18,400 92,500 67,500 91,500 During 2020, net sales were $1,441,125, and cost of goods sold was $1,091,775. Compute the current ratio at December 31, 2020. (Round answer to 2 decimal places, e.g. 15.25.)

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Cash
Short-term investments
Receivables (net)
Inventory
Total current liabilities
(a)
December 31, 2020
$40,400
20,300
113,375
78,070
105,500
Current ratio
December 31, 2019
$32,700
18,400
During 2020, net sales were $1,441,125, and cost of goods sold was $1,091,775.
:1
92,500
67,500
91,500
Compute the current ratio at December 31, 2020. (Round answer to 2 decimal places, e.g. 15.25.)

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