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Following is the statement of financial position of RMM Ltd. for the year ended December 31, 2023: From RMM's income statement, cost of goods sold
Following is the statement of financial position of RMM Ltd. for the year ended December 31, 2023: From RMM's income statement, cost of goods sold for 2023 was $1,898,000. Accounts payable on December 31,2022 was $150,600. Calculate the current ratio, acid-test ratio, and days payables outstanding. (Round current ratio and acid-test ratio to 2 decimal places, e.g. 7.25. Round days payable outstanding to 0 decimal places, e.g. 53. Use 365 days for calculation.)
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