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The crafter company had the following assets and liabilities as of December 31, 2012: Assets Cash 18,893 Accounts receivable 12,589 Inventory 23,020 Equipment 73,289 Liabilities
The crafter company had the following assets and liabilities as of December 31, 2012:Assets Cash 18,893 Accounts receivable 12,589 Inventory 23,020 Equipment 73,289 Liabilities Current portion of long term debt 12,390 Accounts payable 3,145 Long term debt $67,517 Determine the quick ratio for the end of the year. A. 3.5 B. 2.0 C. .8 D. 1.5
Assets
Cash 18,893
Accounts receivable 12,589
Inventory 23,020
Equipment 73,289
Liabilities
Current portion of long term debt 12,390
Accounts payable 3,145
Long term debt $67,517
Determine the quick ratio for the end of the year.
A. 3.5
B. 2.0
C. .8
D. 1.5
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