Sandhill Corporation Balance Sheet as of July 31, 2017 Assets Liabilities and Stockholders' Equity Cash and marketable securities $12,036 Accounts payable $8,420 Accounts receivable 8,942 Accrued and other liabilities 7,475 Inventory 10,150 Taxes payable 6,364 Deferred income taxes 1,001 Debt due within one year 14,227 Prepaid expenses & other receivables 3,195 Total current liabilities $36,486 Total current assets $35,324 Property, plant, and equipment, at cost 71,212 Long-term debt 27,680 Less: Accumulated depreciation 25,303 Deferred income taxes 7,869 Net property, plant, and equipment $45,909 Other non-current liabilities 6,393 Net goodwill and other intangible assets 18,550 Total liabilities $78,428 Common stock 4,180 Retained earnings 17,175 Total stockholders' equity 21,355 Total assets $99,783 Total liabilities and stockholders' equity $99,783

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Sandhill Corporation recently filed the following financial statements with the SEC.

Sandhill Corporation
Income Statement for the Fiscal
Year Ended July 31, 2017
Net sales   $83,489
Cost of products sold   59,385
Gross profit   $24,104
Selling, general, and administrative expenses   10,640
Depreciation   1,208
Operating income (loss)   $12,256
Interest expense   740
Earnings (loss) before income taxes   $11,516
Income taxes   4,031
Net earnings (loss)   $7,485

What are the company’s current ratio and quick ratio? (Round answers to 2 decimal places, e.g. 52.75.)

Current ratio    
Quick ratio    
Sandhill Corporation
Balance Sheet as of July 31, 2017
Assets
Liabilities and Stockholders' Equity
Cash and marketable securities
$12,036
Accounts payable
$8,420
Accounts receivable
8,942
Accrued and other liabilities
7,475
Inventory
10,150
Taxes payable
6,364
Deferred income taxes
1,001
Debt due within one year
14,227
Prepaid expenses & other receivables
3,195
Total current liabilities
$36,486
Total current assets
$35,324
Property, plant, and equipment, at cost
71,212
Long-term debt
27,680
Less: Accumulated depreciation
25,303
Deferred income taxes
7,869
Net property, plant, and equipment
$45,909
Other non-current liabilities
6,393
Net goodwill and other intangible assets
18,550
Total liabilities
$78,428
Common stock
4,180
Retained earnings
17,175
Total stockholders' equity
21,355
Total assets
$99,783
Total liabilities and stockholders' equity
$99,783
Transcribed Image Text:Sandhill Corporation Balance Sheet as of July 31, 2017 Assets Liabilities and Stockholders' Equity Cash and marketable securities $12,036 Accounts payable $8,420 Accounts receivable 8,942 Accrued and other liabilities 7,475 Inventory 10,150 Taxes payable 6,364 Deferred income taxes 1,001 Debt due within one year 14,227 Prepaid expenses & other receivables 3,195 Total current liabilities $36,486 Total current assets $35,324 Property, plant, and equipment, at cost 71,212 Long-term debt 27,680 Less: Accumulated depreciation 25,303 Deferred income taxes 7,869 Net property, plant, and equipment $45,909 Other non-current liabilities 6,393 Net goodwill and other intangible assets 18,550 Total liabilities $78,428 Common stock 4,180 Retained earnings 17,175 Total stockholders' equity 21,355 Total assets $99,783 Total liabilities and stockholders' equity $99,783
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