Question
RL Enterprises current asset information for the last four years is shown below. RL maintained a constant $320,000 of current liabilities throughout these years. Based
RL Enterprises current asset information for the last four years is shown below. RL maintained a constant $320,000 of current liabilities throughout these years. Based on the current ratio, in which year was JT most liquid? CURRENT ASSETS 2018 2019 2020 2021 Cash $18,000 $16,500 $19,200 $17,400 Short-term Investments 92,000 85,000 79,000 80,000 Accounts Receivable 96,000 91,500 94,300 95,000 Inventory 115,000 112,000 122,000 118,500 Prepaid Expenses 40,000 41,500 40,100 41,400 TOTAL CURRENT ASSETS $361,000 $346,500 $354,600 $352,300 2019 2020 2018 2021
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