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Question 3 (15 points) Baker's Used Autos has sales of $638,400, inventory turnover of 4.5, and a profit margin of 9.8 percent. The firm has

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Question 3 (15 points) Baker's Used Autos has sales of $638,400, inventory turnover of 4.5, and a profit margin of 9.8 percent. The firm has a total debt of $1,200,000, a current ratio of 1.2 and a fixed asset turnover of 1.824. Return on equity is 12%. a. What is the quick ratio? b. If the company want so to retain 40% of its earnings, how much dividends could it distribute to its shareholders

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