Financial Accounting Regal Manufacturing has a quick ratio of 2.8 to 1. It has currentliabilities of $50,000 and noncurrent assets of $80,000. If Regal'scurrent ratio is 3.5 to 1, its inventory and prepaid expenses mustbe:a. $22,500b. $35,000c. $30,000d. $25,000

Quick Ratio = 2.8Current Ratio = 3.5Current Liabilities = $50,000 Current Assets = Current Ratio ×…

Answered: Regal Manufacturing has a quick ratio…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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Regal Manufacturing has a quick ratio of 2.8 to 1. It has current liabilities of $50,000 and noncurrent assets of $80,000. If Regal's current ratio is 3.5 to 1, its inventory and prepaid expenses must be: a. $22,500 b. $35,000 c. $30,000 d. $25,000