Sunland Corporation had the following comparative current assets and current liabilities: Cash Current assets Short-term investments...

 

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Sunland Corporation had the following comparative current assets and current liabilities: Cash Current assets Short-term investments Accounts receivable Inventory Prepaid assets Dec. 31, 2024 Total current assets $37,960 48,000 63,000 106,000 39,040 $294,000 Current liabilities Dec. 31, 2023 $38,000 18,000 103,000 87,000 28,000 $274,000 a) b) (c) Accounts payable Salaries payable Income tax payable d) Total current liabilities During 2024, credit sales and cost of goods sold were $265,600 and $202,650, respectively. Calculate the following liquidity measures for 2024: (Round final answers to 1 decimal place, eg. 15) Current ratio Acid-test ratio Receivables turnover $128,000 44,000 24,000 $196,000 Inventory turnover $118,000 34,000 19,000 $171.000 :1 :1 times times Sunland Corporation had the following comparative current assets and current liabilities: Cash Current assets Short-term investments Accounts receivable Inventory Prepaid assets Dec. 31, 2024 Total current assets $37,960 48,000 63,000 106,000 39,040 $294,000 Current liabilities Dec. 31, 2023 $38,000 18,000 103,000 87,000 28,000 $274,000 a) b) (c) Accounts payable Salaries payable Income tax payable d) Total current liabilities During 2024, credit sales and cost of goods sold were $265,600 and $202,650, respectively. Calculate the following liquidity measures for 2024: (Round final answers to 1 decimal place, eg. 15) Current ratio Acid-test ratio Receivables turnover $128,000 44,000 24,000 $196,000 Inventory turnover $118,000 34,000 19,000 $171.000 :1 :1 times times

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Answer a Current Ratio Current Assets cReceivable turnover Net credit sal... View the full answer