Answered You can hire a professional tutor to get the answer.

QUESTION

Given the following information, what is the firm's quick ratio?

Given the following information, what is the firm's quick ratio?

BALANCE SHEET INFORMATION

Cash = $1,160,000

Accounts receivable = (not given)

Inventory = $1,230,000

Fixed Assets = $4,470,000

Total assets = $7,700,000

Accounts payable = (not given)

Long-term debt = $2,300,000

Common stock = $770,000

Retained earnings = $3,570,000

Total liabilities and equity = $7,700,000

INCOME STATEMENT INFORMATION

Sales = $15,400,000

Operating expense = $12,780,000

EBIT = $2,620,000

Interest expense = $322,000

EBT = $2,298,000

Taxes = $919,000

Net Income = $1,379,000

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question