Calculate 1. Current ratio 2. Acid test ratio Sanchez Corporation Selected Financial Information 12/31/2024 $ 20,000 100,000

Calculate

1. Current ratio

2. Acid test ratio
 

Transcribed Image Text:

Sanchez Corporation Selected Financial Information 12/31/2024 $ 20,000 100,000 190,000 Cash Accounts receivable (net) Inventories Total current assets. Long-term assets Current liabilities. Long-term liabilities Shareholders' equity Net income Interest expense Income tax expense 310,000 230,000 200,000 40,000 300,000 $ 40,000 10,000 20,000 12/31/2023 $ 25,000 110,000 155,000 290,000 210,000 190,000 50,000 260,000 Sanchez Corporation Selected Financial Information 12/31/2024 $ 20,000 100,000 190,000 Cash Accounts receivable (net) Inventories Total current assets. Long-term assets Current liabilities. Long-term liabilities Shareholders' equity Net income Interest expense Income tax expense 310,000 230,000 200,000 40,000 300,000 $ 40,000 10,000 20,000 12/31/2023 $ 25,000 110,000 155,000 290,000 210,000 190,000 50,000 260,000

Answer rating: 100% (QA)

Current ratio Current ratio Current assets Current liabilities Current assets Cas... View the full answer