Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pleez pleez help heelpASAAAP. i need to know the correct answer Question 10 5 pts Using the information below for Galaxy Interiors, what is the

pleez pleez help heelpASAAAP. i need to know the correct answer image text in transcribed
image text in transcribed
Question 10 5 pts Using the information below for Galaxy Interiors, what is the quick ratio for 2019? Income Statement for 2019 ($ in millions) Net sales $21, 415 Cost of goods sold 16,408 Depreciation 1,611 Earnings before interest & taxes 3,396 Interest expense 1,282 Taxes 740 Net income $ 1,374 Balance Sheet($ in millions) Cash 2018 2019 $ 668 $ 297 Payables 1,611 1,527 Note Payable 2018 2019 $ 1,694 $ 1,532 2,500 Receivables inuenta 4 Balance Sheet ($ in millions) 2018 2019 2018 2019 Cash $ 668 $ 297 Payables $ 1,694 $ 1,532 Receivables 1,611 1,527 Note Payable 2,500 0 Inventory 3,848 2.947 Subtotal 4,194 1,532 Subtotal 6,127 4,771 Long-term debt 9,800 10,650 Net fixed assets 17,489 17,107 Common stock 7,500 7,000 Retained earn. 2,122 2,696 Total Assets 23,616 21,878 Total liab/equity 23,616 21,878 1.461 0.543 1.191 1.138 3.114

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Your Financial Future How To Take Control Of Your Financial Future

Authors: Deloris Lutke

1st Edition

979-8388730831

More Books

Students also viewed these Finance questions