a. Calculate the Current Ratio b. Calculate the Acid-Test Ratio c. Calculate the Debit to Equity Ratio
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Question:
a. Calculate the Current Ratio
b. Calculate the Acid-Test Ratio
c. Calculate the Debit to Equity Ratio
d. Calculate the Debt Ratio
Sanchez Company had the following year-end balances:
Cash $325,000
Marketable Securities 175,000
Accounts Receivable, net 450,000
Inventory 225,000
Prepaid Expenses 110,000
Plant Assets, net 640,000
Accounts Payable 375,000
Long-term Notes Payable 365,000
Common Stock 645,000
Retained Earnings 540,000
Net income for the year was $305,000
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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