Question: Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5,

Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet

Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5, and Current liabilities of $12,000? Violet's Sales are $115,525, and its Average Collection Period is 40 days? (Assume 365 days per year.). Assume Violet's current assets includes only Cash, inventory and accounts receivables.

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