Question
ABC Corporation's financial statements indicate: Cash: $50,000 Accounts receivable: $30,000 Inventory: $20,000 Total current liabilities: $40,000 Total assets: $200,000 Total liabilities: $80,000 Net income: $25,000
ABC Corporation's financial statements indicate:
- Cash: $50,000
- Accounts receivable: $30,000
- Inventory: $20,000
- Total current liabilities: $40,000
- Total assets: $200,000
- Total liabilities: $80,000
- Net income: $25,000
Calculate: a) Quick ratio b) Inventory turnover ratio c) Return on equity d) Operating profit margin
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
