Select financial statement data for OM&M Inc. for two recent years follows: Based on these data, calculate
Question:
Select financial statement data for OM&M Inc. for two recent years follows:
Based on these data, calculate the following liquidity measures for 20Y2:
a. Current ratio
b. Quick ratio
c. Accounts receivable turnover
d. Inventory turnover
Transcribed Image Text:
Select income statement information: Sales Cost of goods sold Select balance sheet information: Cash Temporary investments Accounts receivable (net) Inventory Accounts payable 20Y2 $1,800,000 $1,740,000 1,200,000 1,120,000 $ 300,000 100,000 20Y1 200,000 160,000 400,000 $290,000 100,000 160,000 140,000 350,000
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a b C Current Ratio d Quick Ratio Accounts Receivable Turnover Inventory Turnover Cu...View the full answer
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337902663
15th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
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