Sanchez Company had the following year-end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory

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Sanchez Company had the following year-end balances:

Cash $325,000

Marketable Securities 175,000

Accounts Receivable, net 450,000

Inventory 225,000

Prepaid Expenses 110,000

Plant Assets, net 640,000

Accounts Payable 375,000

Long-term Notes Payable 365,000

Common Stock 645,000

Retained Earnings 540,000

Net income for the year was $305,000

a. Calculate the Current Ratio

b. Calculate the Acid-Test Ratio

c. Calculate the Debit to Equity Ratio

d. Calculate the Debt Ratio

Related Book For answer-question

College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

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Posted Date: Mar 02, 2023 05:51 AM

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Sanchez Company had the following year-end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory

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a The Current Ratio is calculated as Current Assets divided by Current Liabilities Current Assets Ca... View the full answer

College Mathematics for Business Economics Life Sciences and Social Sciences

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