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Calculate the acid-test (quick) ratio for the past two years. Did the acid-test ratio improve or weaken in the more recent year? 2020 2019 $
Calculate the acid-test (quick) ratio for the past two years. Did the acid-test ratio improve or weaken in the more recent year?
2020 2019 $ (In thousands except share data) ASSETS CURRENT ASSETS: Cash and cash equivalents Restricted cash from collections on auto loans receivable Accounts receivable, net Inventory Other current assets TOTAL CURRENT ASSETS Auto loans receivable, net Property and equipment, net Deferred income taxes Operating lease assets Other assets TOTAL ASSETS 58,211 481,043 191,090 2,846,416 86,927 3,663,687 13,551,711 3,069,102 89,842 449,094 258,746 21,082,182 46,938 440,669 139,850 2,519,455 67,101 3,214,013 12,428,487 2,828,058 61,346 185,963 18,717,867 $ $ $ 593,171 318,204 3,784 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: : Accounts payable Accrued expenses and other current liabilities Accrued income taxes Current portion of operating lease liabilities Short-term debt Current portion of long-term debt Current portion of non-recourse notes payable TOTAL CURRENT LIABILITIES Long-term debt, excluding current portion Non-recourse notes payable, excluding current portion Operating lease liabilities, excluding current portion Other liabilities TOTAL LIABILITIES 737,144 331,738 1,389 30,980 40 9,251 424,165 1,534,707 1,778,672 13,165,384 440,671 393,873 17,313,307 1,129 10,177 385,044 1,311,509 1,649,244 12,127,290 272,796 15,360,839Step by Step Solution
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