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eBook Print Item Question Content Area Cornerstone Exercise 8-34 (Algorithmic) Liquidity Ratios GER's financial statements contain the following information: Cash $3,607,200 Accounts receivable 3,006,000 Inventory
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Cornerstone Exercise 8-34 (Algorithmic) Liquidity Ratios
GER's financial statements contain the following information:
| Cash | $3,607,200 |
| Accounts receivable | 3,006,000 |
| Inventory | 4,058,100 |
| Marketable securities | 1,202,400 |
| Accounts payable | 3,106,000 |
| Accrued expenses | 1,904,000 |
| Long-term debt | 12,000,000 |
Required:
Round answers to two decimal places.
1. What is its current ratio?
2. What is its quick ratio?
3. What is its cash ratio?
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
