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3. ( 15 Points ) Given the following partial Balance Sheet , and a current ratio of ..... determine the Current Liabilities , Notes Payable

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3. ( 15 Points ) Given the following partial Balance Sheet , and a current ratio of ..... determine the Current Liabilities , Notes Payable and Quick Ratio . Quick ( acid - test ) ratio calculated by dividing most liquid current assets by current liabilities . - Inventory subtracted from total current assets determines most liquid assets . Quick ratio = current assets - inventory / current liabilitys Balance Sheet Information to be provided Notes Payable* Total Current Liabilities Quick Ratio

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