Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Polk Software Inc. sell and replace its inventory? 4.57x O 4.97x O 5.23x O 3.69x
Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Polk Software Inc. sell and replace its inventory? 4.57x O 4.97x O 5.23x O 3.69x
Chapter2: Analysis Of Financial Statements
Section: Chapter Questions
Problem 12PROB
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![Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets
of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual
report. Over the past year, how often did Polk Software Inc. sell and replace its inventory?
4.57x
O 4.97x
O 5.23x
3.69x](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe4098eb-3166-4775-adc4-6e30e0bb3092%2F4ba3d3bb-1ed3-43a0-a005-4d6e72c4b512%2F215mt56_processed.png&w=3840&q=75)
Transcribed Image Text:Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets
of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual
report. Over the past year, how often did Polk Software Inc. sell and replace its inventory?
4.57x
O 4.97x
O 5.23x
3.69x
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