Stacy Banners reported the following figures in its financial statements: 22,000 86,500 70,000 Cash Cash Equivalents Total Current Liabilities Compute the cash ratio for Stacy Banners. Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.) + $ + = = Cash ratio
Stacy Banners reported the following figures in its financial statements: 22,000 86,500 70,000 Cash Cash Equivalents Total Current Liabilities Compute the cash ratio for Stacy Banners. Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.) + $ + = = Cash ratio
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Stacy Banners reported the following figures in its financial statements:
Cash
Cash Equivalents
Total Current Liabilities
Compute the cash ratio for Stacy Banners.
+
$
Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.)
+
22,000
86,500
70,000
=
=
Cash ratio
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