Quick Ratio EVANS and Sons, Inc. Income Statement (in millions) 2019 2018 Net sales $9,800 $9,300 Cost of goods sold (5,500) (5,200) Gross profit 4,300 4,100 Selling and administrative expenses (2,800) (2,700) Income from operations 1,500 1,400 Interest expense (300) (250) Income before income taxes 1,200 1,150 Income tax expense (220) (200) Net income $980 $950 2019 2018 EVANS and Sons, Inc. Balance Sheet (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory Other current assets Total current assets Property, plant & equipment, net $100 900 500 400 1.900 2,600 $300 800 650 250 2.000 2.500 Type here to search o Ri e a Quick Ratio EVANS and Sons, Inc. Income Statement (in millions) 2019 2018 Net sales $9,800 $9,300 Cost of goods sold (5,500) (5,200) Gross profit 4,300 4,100 Selling and administrative expenses (2,800) (2,700) Income from operations 1,500 1,400 Interest expense (300) (250) Income before income taxes 1,200 1,150 Income tax expense (220) (200) Net income $980 $950 2019 2018 EVANS and Sons, Inc. Balance Sheet (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory Other current assets Total current assets Property, plant & equipment, net $100 900 500 400 1.900 2,600 $300 800 650 250 2.000 2.500 Type here to search o Ri e a