Question
Problem 3-2 Liquidity Ratios (LG3-1) The top part of Ramakrishnan, Inc,'s 2015 and 2014 balance sheets is listed below (in millions of dollars). 2015201420152014Current assets:Current
Problem 3-2 Liquidity Ratios (LG3-1)
The top part of Ramakrishnan, Inc,'s 2015 and 2014 balance sheets is listed below (in millions of dollars).
2015201420152014Current assets:Current liabilities:Cash and marketable securities$58$49Accrued wages and taxes$44$43Accounts receivable155140Accounts payable9988Inventory218199Notes payable6456Total$431$388Total$207$187
Calculate Ramakrishnan, Inc.'s current ratio for 2015 and 2014.(Round your answers to 2 decimal places.)
Current ratio2015times2014times
Calculate Ramakrishnan, Inc.'s quick ratio for 2015 and 2014.(Round your answers to 2 decimal places.)
Quick ratio2015times2014times
Calculate Ramakrishnan, Inc.'s cash ratio for 2015 and 2014.(Round your answers to 2 decimal places.)
Cash ratio2015times2014times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
