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The financial statements of Goren News, Inc., include the following items: B (Click the icon to view the financial statements.) 2018 2017 2016 Read the
The financial statements of Goren News, Inc., include the following items: B (Click the icon to view the financial statements.) 2018 2017 2016 Read the requirements. Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places, X.XX.) Balance sheet: Cash $ Current assets Current liabilities 77,000 $ 103,000 Current ratio Short-term investments 2018 $ / $ 1.98 271,000 290,000 137,000 93,000 65,000 2017 $ / $ 3.12 Net receivables Inventory 13,000 81,000 94,000 6,000 24,000 84,000 75,000 4,000 68,000 b. Quick (acid-test) ratio. Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviations used: Avg = average, ST = shon X.XX.) Prepaid expenses Total current assets 271,000 80,000 290,000 45,000 Accounts payable 55,000 + + Acid-tes Total current liabilities 137,000 93,000 2018 ( + + 17 Income statement: 2017 ( + + Net credit sales $ 496.000 $ 503.000 Choose from any list or enter any number in the input fields and then click Check
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