Liquidity Ratios You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet, you find the following balances: cash and marketable securities=$400,000. 

accounts receivable=$1,200,000; inventory=$2,100,000.

accrued wages and taxes=$500,000.

accounts payable=$800,000; and notes payable=$600,000

Calculate SophieLex's current ratio, quick ratio, and cash ratio.

Answer rating: 100% (QA)

To calculate the liquidity ratios for SophieLexs Corporation we need to use the following formulas 1 ... View the full answer