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Sanchez Company had the following year- end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory 225,000 Prepaid Expenses 110,000 Plant Assets, net 640,000 Accounts Payable 375,000 Long-term Notes Payable 365,000 Common Stock 645,000 Retained Earnings 540,000 Net income for the year was $305,000 Calculate the Current Ratio

Sanchez Company had the following year- end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory 225,000 Prepaid Expenses 110,000 Plant Assets, net 640,000 Accounts Payable 375,000 Long-term Notes Payable 365,000 Common Stock 645,000 Retained Earnings 540,000 Net income for the year was $305,000 Calculate the Current Ratio

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sanchez Company had the following year- end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory 225,000 Prepaid Expenses 110,000 Plant Assets, net 640,000 Accounts Payable 375,000 Long-term Notes Payable 365,000 Common Stock 645,000 Retained Earnings 540,000 Net income for the year was $305,000 Calculate the Current Ratio Calculate the Acid-Test Ratio Calculate the Debit to Equity Ratio Calculate the Debt Ratio
Transcribed Image Text:Sanchez Company had the following year- end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory 225,000 Prepaid Expenses 110,000 Plant Assets, net 640,000 Accounts Payable 375,000 Long-term Notes Payable 365,000 Common Stock 645,000 Retained Earnings 540,000 Net income for the year was $305,000 Calculate the Current Ratio Calculate the Acid-Test Ratio Calculate the Debit to Equity Ratio Calculate the Debt Ratio
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