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The following information pertains to Yogita, her competition, and the industry standards Yogita Nhat Aurora Cash $10,490 $27.000 Accounts receivable Merchandise inventory $9,350 12,140 29,480
The following information pertains to Yogita, her competition, and the industry standards Yogita Nhat Aurora Cash $10,490 $27.000 Accounts receivable Merchandise inventory $9,350 12,140 29,480 8.750 14.650 Prepaid insurance 41.230 8,590 38,820 3,900 1,500 Accounts payable $14,720 527,490 $17,800 1,000 Salary payable 2,980 8,750 Other payable 550 1,010 3,240 The industry standard for the current ratio is 1.8 to 1, and for the acid-torstratio, 1 to 1 Instructions a) Calculate the current ratio and quick rate for an em (2) Rank the firms in decreasing order or liquidity (3) Comment on Yogita's relative position NOTE: Be sure to answer all requirements in this
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