Question
ABC Corporation's financial statements show the following: Cash: $70,000 Accounts receivable: $40,000 Inventory: $25,000 Total current liabilities: $45,000 Total assets: $250,000 Total liabilities: $100,000 Net
ABC Corporation's financial statements show the following:
- Cash: $70,000
- Accounts receivable: $40,000
- Inventory: $25,000
- Total current liabilities: $45,000
- Total assets: $250,000
- Total liabilities: $100,000
- Net income: $30,000
Compute: a) Quick ratio b) Inventory turnover ratio c) Return on equity d) Operating profit margin
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Intermediate Accounting IFRS Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
2nd Edition
1118443969, 978-1118443965
