Question
Table B shows a balance sheet for a certain company. All quantities shown are in millions of dollars. What is the company's quick ratio for
Table B shows a balance sheet for a certain company. All quantities shown are in millions of dollars. What is the company's quick ratio for 2020? Note: Express your answers in strictly numerical terms, and IN million of USDs."
TABLE B | |||||
Assets | 2020 | 2019 | Liabilities and Stockholders' Equity | 2020 | 2019 |
Current Assets |
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| Current Liabilities |
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Cash | 90 | 90 | Accounts payable | 130 | 80 |
Accounts receivable | 100 | 70 | Notes payable / short-term debt | 14 | 25 |
Inventories | 50 | 60 | Current maturities of long-term debt | 45 | 65 |
Other current assets | 11 | 8 | Other current liabilities | 9 | 15 |
Total current assets | 251.0 | 228.0 | Total current liabilities | 198.0 | 185.0 |
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Long-Term Assets |
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| Long-Term Liabilities |
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Land | 70 | 80 | Long-term debt | 90 | 110 |
Buildings | 100 | 98 | Capital lease obligations |
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Equipment | 50 | 50 |
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Less accumulated depreciation | -37.5 | -37 | Deferred taxes | 45 | 19 |
Net property, plant, and equipment | 182.5 | 191 | Other long-term liabilities | --- | --- |
Goodwill | 10 | 10 | Total long-term liabilities | 135 | 129 |
Other long-term assets | 35 | 40 | Total liabilities | 333.0 | 314.0 |
Total long-term assets | 227.5 | 231 | Stockholders' Equity | 145.5 | 72.7 |
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Total Assets | 478.5 | 386.7 | Total liabilities and Stockholders' Equity | 478.5 | 386.7 |
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