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Jordan Company provided the following information: An account shows the following information: Current assets: Cash, $ 1 2 , 4 5 0 , 0 0

Jordan Company provided the following information:

An account shows the following information: Current assets: Cash, $

12, 450, 000,

Accounts receivable,

8, 740, 000,

Inventories,

8, 150, 000,

Total current assets, $

29, 340, 000,

Current liabilities, $

16, 300, 000

Excel ObjectiveCalculate and use liquidity ratios to assess the ability of a company to meet its current obligations.

Required:

Note: Round answers to one decimal place.

Compute the current ratio.

Compute the quick

(

acid

-

test

)

ratio.

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