The balance sheet of a luggage manufacturer reports the following: Cash $631,000 Accounts receivable 439,000 Inventory 300,000 Marketable securities 200,000 Current liabilities 500,000 676,000 Long-term liabilities Based on the information provided, the luggage manufacturer's quick ratio is: a. 1.55 b. 2.34 c. 2.54 d. 2.14

The balance sheet of a luggage manufacturer reports the following: Cash $631,000 Accounts receivable 439,000 Inventory 300,000 Marketable securities 200,000 Current liabilities 500,000 676,000 Long-term liabilities Based on the information provided, the luggage manufacturer's quick ratio is: a. 1.55 b. 2.34 c. 2.54 d. 2.14

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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