Under Armour has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and

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Under Armour has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and other current assets, $18 million. Under Armour has the following liabilities: accounts payable, $98 million; current portion of long-term debt, $35 million; and long-term debt, $23 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Under Armour.

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Financial Accounting

ISBN: 9780078110825

2nd Edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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