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You are evaluating the balance sheet for PattyCake's Corporation. From the balance sheet you find the following balances:
You are evaluating the balance sheet for PattyCake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $360,000; accounts receivable = $1,280,000; inventory = $2,180,000; accrued wages and taxes = $540,000; accounts payable = $840,000; and notes payable = $680,000.
Calculate PattyCakes' current ratio. (Round your answer to 2 decimal places.)
Current ratio times
Calculate PattyCakes' quick ratio. (Round your answer to 2 decimal places.)
Quick ratio times
Calculate PattyCakes' cash ratio. (Round your answer to 2 decimal places.)
Cash ratio times
