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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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