El Puerto de Liverpool (Liverpool) is a large retailer in Mexico. The following accounts are selected from its annual report for the fiscal year ended December 31, 2017. The amounts below are in thousands of Mexican pesos.

a. Indicate the appropriate classification of each account as appearing in either its balance sheet (B) or its income statement (I).

b. Determine Liverpool's total liabilities and current liabilities as of December 31, 2017.

c. Calculate Liverpool's quick ratio as of December31, 2017. (Assume that Liverpool only has five types of current assets-cash, marketable securities, accounts receivable, inventory, and prepaid expenses.)

Transcribed Image Text:

(pesos thousands) Amount Classification Total revenue Retained eamings Inventory...... Administration expenses Total assets.. Long-term debt. Financing costs. $122,168,279 .3B 82,963,786 18,486,423 33,549,108 ... 168,266,121 33,358,545 7,137,563 67,351,290 90,082,378 1,913,794 Total current assets Tatal stockholders' equity Prepaid expenses.. Total noncurrent liabiities. 38,849,994