Question
Sandhill Automotives balance sheet at the end of its most recent fiscal year shows the following information: Sandhill Automotive Balance Sheet as of March 31,
Sandhill Automotives balance sheet at the end of its most recent fiscal year shows the following information: Sandhill Automotive Balance Sheet as of March 31, 2017 Assets: Liabilities and Equity: Cash and marketable sec. $38,000 Accounts payable and accruals $163,000 Accounts receivable 166,000 Notes payable 28,000 Inventory 227,000 Total current assets $431,000 Total current liabilities $191,000 Long-term debt 166,000 Total liabilities $357,000 Net plant and equipment 710,000 Common stock 310,000 Goodwill and other assets 99,000 Retained earnings 573,000 Total assets $1,240,000 Total liabilities and equity $1,240,000 In addition, it was reported that the firm had a net income of $178,000 on net sales of $4,200,000.
What are the firms current ratio and quick ratio? (Round answers to 2 decimal places, e.g.15.25.)
Current Ratio | times | ||
Quick Ratio | times |
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