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SJM's financial statements contain the following information: Cash $2,725,000 Marketable securities 1,725,000 Accounts receivable 3,050,000 Inventory 3,950,000 Accounts payable 3,275,000 Accrued expenses 1,700,000 Long-term debt 9,100,000 Cost of goods sold 4,250,000 Required: Assume the accounts payable balance is all trade payables and opening and closing balances are the same. Round your answers to two decimal places. 1. What is the current ratio? fill in the blank 1 2.30 2. What is the quick ratio? fill in the blank 2 1.51 3. What is the cash ratio? fill in the blank 3 0.89 4. What is the trade payable turnover ratio? fill in the blank 4

SJM's financial statements contain the following information: Cash $2,725,000 Marketable securities 1,725,000 Accounts receivable 3,050,000 Inventory 3,950,000 Accounts payable 3,275,000 Accrued expenses 1,700,000 Long-term debt 9,100,000 Cost of goods sold 4,250,000 Required: Assume the accounts payable balance is all trade payables and opening and closing balances are the same. Round your answers to two decimal places. 1. What is the current ratio? fill in the blank 1 2.30 2. What is the quick ratio? fill in the blank 2 1.51 3. What is the cash ratio? fill in the blank 3 0.89 4. What is the trade payable turnover ratio? fill in the blank 4

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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SJM's financial statements contain the following information: Cash $2,725,000 Marketable securities 1,725,000 Accounts receivable 3,050,000 Inventory 3,950,000 Accounts payable 3,275,000 Accrued expenses 1,700,000 Long-term debt 9,100,000 Cost of goods sold 4,250,000 Required: Assume the accounts payable balance is all trade payables and opening and closing balances are the same. Round your answers to two decimal places. 1. What is the current ratio? fill in the blank 1 2.30 2. What is the quick ratio? fill in the blank 2 1.51 3. What is the cash ratio? fill in the blank 3 0.89 4. What is the trade payable turnover ratio? fill in the blank 4
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