Question: Table 2 shows a balance sheet for a certain company. All quantities shown are in millions of dollars. What is the company's quick ratio for

"Table 2 shows a balance sheet for a certain company. All quantities shown are in millions of dollars. What is the company's quick ratio for 2023? Note: Express your answers in strictly numerical terms, and IN million of USDs."
\table[[Balance Sheet (in million of USDs),,,,,],[Assets,2023,2022,\table[[Liabilities and Stockholders'],[Equity]],2023,2022],[Current Assets,,,Current Liabilities,,],[Cash,100,70,Accounts payable,100,79],[Accounts receivable,96,70,Notes payable / short-term debt,14,25],[Inventories,39,51,\table[[Current maturities of long-term],[debt]],40,65],[Other current assets,10,10,Other current liabilities,11,15],[Total current assets,245.0,201.0,Total current liabilities,165.0,184.0],[Long-Term Assets,,,Long-Term Liabilities,,],[Land,60,63,Long-term debt,60,99],[Buildings,2,1,Capital lease obligations,,],[Equipment,9,9,,,],[Less accumulated depreciation,-2.75,-2.5,Deferred taxes,35,25],[Net property, plant, and equipment,68.25,70.5,Other long-term liabilities,--,---],[Goodwill,5,1,Total long-term liabilities,95,124],[Other long-term assets,29,40,Total liabilities,260.0,308.0],[Total long-term assets,102.25,110.5,Stockholders' Equity,87.3,78.7],[Total Assets,347.3,386.7,\table[[Total liabilities and],[Stockholders' Equity]],347.3,386.7]]
 "Table 2 shows a balance sheet for a certain company. All

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!