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Koss Corporation reported the following amounts in its quarterly financial statements. Use this information to answer questions a-c below. (in thousands) Cash Total Current Assets
Koss Corporation reported the following amounts in its quarterly financial statements. Use this information to answer questions a-c below. (in thousands) Cash Total Current Assets Total Current Liabilities December 31, 2019 $ 2,229 11,689 2,357 March 31, 2020 $ 2,064 11,008 1,757 June 30, 2020 $ 3,999 12,138 2,615 September 30, 2020 $ 3,450 12,457 3,119 a. Of total current assets, what percentage was held as Cash at March 31 and June 30, 2020? (Enter your answer as a percentage, rounded to one decimal place.) = 15.7% March 31, 2020 June 30, 2020 = The above calculations indicate that, after the pandemic started, cash became a percentage of total current assets. b. Calculate the current ratio (rounded to two decimal places) at June 30, 2020. June 30 Current Ratio ULLII CILIILIULIU vuruLULU LYTU ULLIRIUI NULLUULUI UV, cUcu. Required information The current ratio indicates that the current assets at June 30 sufficient to cover current liabilities owed on that date. were were not c. Of total current liabilities, what percentage was Cash at March 31 and June 30, 2020? March 31, 2020 June 30, 2020 The above calculations indicate that Koss Corporation sufficient cash to pay all of its current liabilities owing on March 31 and June 30, 2020. had did not have
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