The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its
Fantastic news! We've Found the answer you've been seeking!
Question:
The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its net income was $35,000. All sales were on credit. Preferred dividends for the year were $5,000.
Lisa Inc.'s acid test (quick) ratio at December 31, 20X7, was closest to?
A. 0.6 to 1.
B. 1.1 to 1.
C. 1.8 to 1.
D. 2.0 to 1.
Related Book For
Posted Date: