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10. Quicksilver Co. at the end of current year has cash of $41,000; net Accounts Receivable of $51,000; short-term investments of $15,000 and inventory of
10. Quicksilver Co. at the end of current year has cash of $41,000; net Accounts Receivable of $51,000; short-term investments of $15,000 and inventory of $32,000. It also has $28,000 in current liabilities and $39,000 in long-term liabilities. The sales of current year is $120,000 and net income is $18.000. At the beginning of current year, the company had inventory of 28,000 and net Accounts Receivable of $49,000. a. What's the quick ratio? (3 Points) b. What's the accounts receivable turnover? (3 Points)
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