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You are evaluating the balance sheet for SophieLex’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $450,000; accounts receivable = $1,100,000; inventory = $2,000,000; accrued wages and taxes = $450,000; accounts payable = $750,000; and notes payable = $500,000.   Calculate SophieLex’s current ratio. (Round your answer to 2 decimal places.)   Calculate SophieLex’s quick ratio. (Round your answer to 2 decimal places.)       Calculate SophieLex’s cash ratio. (Round your answer to 2 decimal places.)

You are evaluating the balance sheet for SophieLex’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $450,000; accounts receivable = $1,100,000; inventory = $2,000,000; accrued wages and taxes = $450,000; accounts payable = $750,000; and notes payable = $500,000.   Calculate SophieLex’s current ratio. (Round your answer to 2 decimal places.)   Calculate SophieLex’s quick ratio. (Round your answer to 2 decimal places.)       Calculate SophieLex’s cash ratio. (Round your answer to 2 decimal places.)

Essentials Of Investments
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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You are evaluating the balance sheet for SophieLex’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $450,000; accounts receivable = $1,100,000; inventory = $2,000,000; accrued wages and taxes = $450,000; accounts payable = $750,000; and notes payable = $500,000.

 

Calculate SophieLex’s current ratio. (Round your answer to 2 decimal places.)

 

Calculate SophieLex’s quick ratio. (Round your answer to 2 decimal places.)

 

 

 

Calculate SophieLex’s cash ratio. (Round your answer to 2 decimal places.)

 

 
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