In addition to the information from S12 6 assume that cash
In addition to the information from S12-6, assume that cash on the 2012 balance sheet was $25,000 and current liabilities totaled $20,000. Compute the following ratios for 2012:
In S12-6, The 2011 and 2012 balance sheets for Victor and Sons showed net accounts receivable of $12,000 and $16,000, respectively, inventory of $9,000 and $7,000, respectively, and accounts payable of $6,500 and $7,500, respectively. The company’s 2012 income statement showed net sales of $102,200 and cost of goods sold of $72,270.

1. Current ratio
2. Quick ratio
3. Cash conversion cycle

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