Current Position Analysis The following items are reported on a company's balance sheet: Cash $423,700 Marketable securities 331,000 Accounts receivable (net) 304,500 Inventory 264,800 Accounts payable 662,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a.  Current ratio fill in the blank 1 b.  Quick ratio fill in the blank 2

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
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...
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Current Position Analysis

The following items are reported on a company's balance sheet:

Cash $423,700
Marketable securities 331,000
Accounts receivable (net) 304,500
Inventory 264,800
Accounts payable 662,000

Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

a.  Current ratio fill in the blank 1
b.  Quick ratio fill in the blank 2

 

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