Question
ABC Corporation's financial statements show the following: Cash: $80,000 Accounts receivable: $45,000 Inventory: $35,000 Total current liabilities: $55,000 Total assets: $350,000 Total liabilities: $140,000 Net
ABC Corporation's financial statements show the following:
- Cash: $80,000
- Accounts receivable: $45,000
- Inventory: $35,000
- Total current liabilities: $55,000
- Total assets: $350,000
- Total liabilities: $140,000
- Net income: $50,000
Compute: a) Quick ratio b) Inventory turnover ratio c) Return on equity d) Operating profit margin
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Financial Accounting The Impact on Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
9th edition
130565417X, 1305654174, 9781285972572 , 978-1285182964
