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Problem 3-1 Liquidity Ratios (LG1) You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash
Problem 3-1 Liquidity Ratios (LG1) You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000; accounts receivable = $1,200,000; inventory = $2,100,000, accrued wages and taxes-$500,000, accounts payable = $800,000, and notes payable = $600,000. Calculate Goodman Bees' current ratio. (Round your answer to 2 decimal places.) Current ratio times Calculate Goodman Bees' quick ratio. (Round your answer to 2 decimal places.) Quick ratio times Calculate Goodman Bees' cash ratio. (Round your answer to 2 decimal places.) Cash ratio times
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