Shown below are account balances for Electra Engines Inc., a manufacturer. The accounts are shown in a
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Shown below are account balances for Electra Engines Inc., a manufacturer. The accounts are shown in a random order. What is the current ratio and the quick ratio?
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Property, Plant, and Equipment Accounts Payable Intangible Assets Cash Marketable Securities (maturing in 6 months or less) Retained Earnings Interest Payable Notes Payable (due in 24 months) Accounts Receivable Notes Payable (due in 6 months) Common Stock Dividends Payable Inventory $500,000 9,000 5,000 12,000 25,000 25,000 2,500 10,000 25,000 20,000 45,000 3,000 55,000
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