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Applying Excel 11: Acid-test ratio Which of the following formulas correctly calculates the acid-test ratio for 2022? Hint: Remember that Excel uses the order of
Applying Excel 11: Acid-test ratio Which of the following formulas correctly calculates the acid-test ratio for 2022? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Use parentheses around any calculations in either the numerator or denominator. 1 2. 3 2020 4 Net sales Comparative Income Statements For Years Ended December 31, 2023-2020 2023 2022 2021 $318,000 $284,000 $247,000 143,000 254,000 161,000 175,000 30,000 86,000 114,000 14,000 39,000 $61,000 $16,000 $47,000 5 Cost of goods sold 6 Gross margin 7 Operating expenses 8 Net income $174,000 149,000 25,000 11,000 $14,000 9 10 11 12 2020 13 Cash 14 Accounts receivable, net 15 Merchandise inventory 16 Plant assets, net Comparative Balance Sheets For Years Ended December 31, 2023-2020 2023 2022 2021 $56,000 $4,000 $30,000 89,000 80,000 69,000 36,000 89,000 40,000 130,000 120,000 100,000 $311,000 $293,000 $239,000 $18,000 49,000 52,000 90,000 $209,000 17 Total assets 18 19 Current liabilities 20 Long-term liabilities 21 Common stock 22 Retained earnings 23 Total liabilities and equity $43,000 100,000 30,000 138,000 $311,000 $76,000 110,000 30,000 77,000 $293,000 $48,000 100,000 30,000 61,000 $239,000 $45,000 120,000 30,000 14,000 $209,000 24 Multiple Choice =+(B13+B14)/C19 =+C13+C14/C19 =+(C13+C14+C15)/C19 =+(C13+C14)/C19
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