Question
SarasotaCorporation shows the following financial position and results for the three years ended December 31, 2020, 2021, and 2022 (in thousands): 2022 2021 2020 Cash
SarasotaCorporation shows the following financial position and results for the three years ended December 31, 2020, 2021, and 2022 (in thousands):
2022 2021 2020
Cash $610 $660 $560
FV-NI investments 460 460 460
Accounts receivable 1,300 1,400 1,500
Inventory 4,800 4,400 4,000
Prepaid expenses 1,100 800 700
Total current assets $8,270 $7,720 $7,220
Accounts payable $1,700 $1,863 $1,950
Accrued liabilities 1,970 1,700 1,600
Total current liabilities $3,670 $3,563 $3,550
Cost of goods sold $15,300 $20,200 $18,000
For each year, calculate the current ratio, quickratio, and for 2021 and 2022, calculate the days payables outstanding ratio.(Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.)
Ratio 2022 2021 2020
Current Ratio ??? ??? ???
Quick Ratio ??? ??? ???
Days Payables
Outstanding ??? ??? ???
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