Question: Presented below are summary financial data from the Jackson Co. annual report: Amounts in millions Balance sheet Cash and cash equivalents $6,050 Marketable securities 42,075
Presented below are summary financial data from the Jackson Co. annual report:
| Amounts in millions | |
|---|---|
| Balance sheet | |
| Cash and cash equivalents | $6,050 |
| Marketable securities | 42,075 |
| Accounts receivable (net) | 27,500 |
| Total current assets | 115,500 |
| Total assets | 426,250 |
| Current liabilities | 70,000 |
| Long-term debt | 118,750 |
| Shareholders equity | 198,750 |
| Income Statement | |
| Interest expense | 8,800 |
| Net income before taxes | 92,000 |
Calculate the following ratios: (round to two decimal places)
| a. | Times-interest-earned ratio | |
| b. | Quick ratio | |
| c. | Current ratio |
|
How do I calculate the times-interest-earned ratio, the quick ratio, and the current ratio?
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