Crafter Company has the following assets and liabilities: Assets   Cash $24,971 Accounts receivable 12,397 Inventory 26,682 Equipment 79,197     Liabilities   Current portion of long-term debt 8,928 Accounts payable 2,995 Long-term debt 58,532 Determine the quick ratio (rounded to one decimal point). a.1.1 b.5.4 c.2.0 d.3.1

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Q: compute the current and quick ratios

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A: Formulae:

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Q: 4. What is the debt to total assets ratio of the Company? a. 107%    c. 35% b. 30%.     d. 14% 5.…

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