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29.07.2019 •
Business
Blackwell automotive’s balance sheet at the end of its most recent fiscal year shows the following information: blackwell automotive balance sheet as of march 31, 2013 assets liabilities and equity cash and marketable securities $18,940 accounts payable and accruals $163,257 accounts receivable 128,840 notes payable 21,115 inventories 228,937 total current assets $376,717 total current liabilities $184,372 long-term debt 168,022 total liabilities $352,394 net plant and equipment 711,256 common stock 313,299 goodwill and other assets 89,879 retained earnings 512,159 total assets $1,177,852 total liabilities and equity $1,177,852 in addition, it was reported that the firm had a net income of $412,000 on net sales of $4,240,000. a. what are the firm’s current ratio and quick ratio? (round answers to 2 decimal places, e.g.15.25.) current ratio times quick ratio times
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Ответ:
Current Ratio is 2.04 times
Quick Ratio is 0.80 times
Explanation:
a. Current Ratio : The current ratio is that ratio which shows relationship between current assets and current liabilities. It is computed to check the liquidity of the firm.
Current Ratio = Current Assets ÷ Current Liabilities
= $376,717 ÷ $184,372
= 2.04 times
Thus, the current ratio is 2.04 times
b. Quick Ratio : The Quick ratio is also check the liquidity of the company but while computing it does not include inventories.
Quick Ratio = (Current Assets - Stock) ÷ Current Liabilities
= ($376,717 - $228,937) ÷ $184,372
= 0.80 times
Thus, the quick ratio is 0.80 times
Ответ:
1 cubic yard of compost, 12 cubic yards of topsoil
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