You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the...
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You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $440,000; accounts receivable = $1,120,000; inventory = $2,020,000; accrued wages and taxes = $460,000; accounts payable = $760,000; and notes payable = $520,000. Calculate SophieLex's current ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Current ratio 3.16 times Calculate SophieLex's quick ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Quick ratio 1.22 times Calculate SophieLex's cash ratio. (Round your answer to 2 decimal places.) Cash ratio Answer is complete but not entirely correct. 0.34 times You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $440,000; accounts receivable = $1,120,000; inventory = $2,020,000; accrued wages and taxes = $460,000; accounts payable = $760,000; and notes payable = $520,000. Calculate SophieLex's current ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Current ratio 3.16 times Calculate SophieLex's quick ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Quick ratio 1.22 times Calculate SophieLex's cash ratio. (Round your answer to 2 decimal places.) Cash ratio Answer is complete but not entirely correct. 0.34 times
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To calculate SophieLexs current ratio we need to divide the total current assets by the total curren... View the full answer
Related Book For
Entrepreneurial Finance
ISBN: 978-0538478151
4th edition
Authors: J . chris leach, Ronald w. melicher
Posted Date:
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