The following items are reported on a company's balance sheet: Line Item Description Amount Cash $249,200 Marketable securities 88,300 Accounts receivable 228,900 Inventory 215,400 Accounts payable 277,800 Determine the (a) current ratio and (b) quick ratio. Round answers to one decimal place. Line Item Description Amount a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2

The following items are reported on a company's balance sheet: Line Item Description Amount Cash $249,200 Marketable securities 88,300 Accounts receivable 228,900 Inventory 215,400 Accounts payable 277,800 Determine the (a) current ratio and (b) quick ratio. Round answers to one decimal place. Line Item Description Amount a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 3BE: The following items are reported on a companys balance sheet: Determine (a) the current ratio and...

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Line Item Description	Amount
Cash	$249,200
Marketable securities	88,300
Accounts receivable	228,900
Inventory	215,400
Accounts payable	277,800

Line Item Description	Amount
a. Current ratio	fill in the blank 1
b. Quick ratio	fill in the blank 2

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