Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounts payable $37,040 Accounts receivable 60,444 Accrued liabilities 6,347 Cash 22,231 Intangible assets 40,416 Inventory 87,419 Long-term investments 103,376 Long-term liabilities 73,572 Marketable securities 38,835

Accounts payable $37,040
Accounts receivable 60,444
Accrued liabilities 6,347
Cash 22,231
Intangible assets 40,416
Inventory 87,419
Long-term investments 103,376
Long-term liabilities 73,572
Marketable securities 38,835
Notes payable (short-term) 21,675
Property, plant, and equipment 614,629
Prepaid expenses 2,156

Based on the above data, what is the quick ratio, rounded to one decimal point?

3.2

1.9

0.9

14.9

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions