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Review the Baker, Inc., balance sheat data presented below EEE (Click the icon to viaw the assets section of the balance sheet.) iClick the icon to view the liabilities and stockholders' equity sections of 1he balance sheeL (Click the icon to view the quick (acid-lest) ralios of olher companies.) 1. Compule Baker, Inc.'s quick (acid-test) raio at December 31, 2016, and 2015. 2. Use the comparative information from the tablegen for Deegan, Inc, Davidson Company, and Lavalles Companies Limited. Is Baker, Inc.'s quick (acid-test) ratio for 2016 and 2015 strong. averaga, or weak in comparison? . Compute Baker Inc's quick (acid-test) ratio at December 31, 2016 and 2015. Select the formula and then enter the amounts to calculate the acid-test ratio.Abbreviation used: ST Round the ratio to two decimal places.) short-tam. Cash Cash and cash equivalents. Net receivablesNat cument reoaivables. Enter the amounts in milions as provided to you in the problem statement. Acid-lest ratio 2016 2015 1. Compute Baker Inc.'s quick (acid-lest) ratio at December 31, 2018 and 2015. - Cash and Select the fo mula and then enter the amounts to calculate the acid test ra o Round the ratio to two decimal places.) Abbre on used: ST short-term cash equ alents et eco ables Not current ece current rocevables. Ente a les Enter the amounts in m llons as pro ded to ou n the problem statement ts in millions as provided to you in as Acid-test ratio 2016( 2015Average inventory Average daily sales Avg net receivables Cash Cost of goods sold Current assets Gurrent liabilities Inventory Net credit sales Net receivables ST investments Total assets Total labities Baker, Inc. Balance Sheets (Adapted) December 31, 2016 and 2015 Increase (Decrease) Amount Percentage (Dollar amounts in millions) 2016 2015 Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Inventories Prepaid expenses and other assets 1,222 $ 920 $ 302 32.8 % 48 258 86 302 1,614 3,326 828 734 (34) (70.8) (18) (7.0) 9.3 (48) (15.9) 13.0 10.0 30.4 13.4 240 94 254 1,824 8 Total current assets Property, plant, and equipment, net Intangible assets Other assets 210 334 252 98 894 3,660 1,080 832 7,396 $ 6,502 $ Total assets 13.7 % Baker, Inc. Balance Sheets (Adapted) December 31, 2016 and 2015 Increase (Decrease) Amount Percentage 2016 (Dollar amounts in millions) Liabilities and Stockholders' Equity 2015 Current liabilities Accounts payable Income tax payable Short-term debt Other 850 $ 72 104 968 $ 118 13.9 % 32 120 64 1,184 3,706 1,158 6,048 (40) (55.6) 15.4 (2) 3.0) 8.4 27.4 8.6 19.4 16 Total current liabilities Long-term debt Other liabilities 1,092 2,908 1,066 5,066 92 798 92 982 Total liabilities Stockholders' equity: Common stock Retained earnings Accumulated other comprehensive (loss) 2 2 1,502 (156) 1,348 7,396 $ 1,610 (176) 1,436 6,502 $ (108) (6.7) 20 11.4 Total stockholders' equity 894 Total liabilities and stockholders' equity 13.7 %
