11.

1. Question Content Area

   The following items are reported on a company's balance sheet:

   Cash	$255,900
   Marketable securities	109,500
   Accounts receivable	227,100
   Inventory	218,600
   Accounts payable	328,900

   Determine (a) the current ratio and (b) the quick ratio. Round your answers to two decimal places.

   a. Current ratio	fill in the blank 1
   b. Quick ratio	fill in the blank 2

12.

A company reports the following:

Sales	$386,900
Average accounts receivable (net)	36,500

Determine (a) the accounts receivable turnover and (b) number of days' sales in receivables. Round your answers to one decimal place. Assume a 365-day year.

a. Accounts receivable turnover	_______
b. Number of days' sales in receivables	_______

13.

A company reports the following:

Cost of merchandise sold	$657,000
Average merchandise inventory	146,000

Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place.

a. Inventory turnover	_____
b. Number of days' sales in inventory	_____

14.

The following information was taken from Slater Company's balance sheet:

Fixed assets (net)	$2,169,099
Long-term liabilities	494,100
Total liabilities	621,860
Total stockholders' equity	2,006,000

Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. Round your answers to two decimal places.

a. Ratio of fixed assets to long-term liabilities	_____
b. Ratio of liabilities to stockholders' equity	______

15.

A company reports the following:

Income before income tax expense	$416,670
Interest expense	73,100

Determine the times interest earned ratio. Round your answer to one decimal place. Ans:_______