The top management of Marquis Marketing Services examines the following company accounting records at August 29, immediately before the end of the company's year, August 31 Click the icon to view the balance sheet.) Read the requirements Requirement 1. Suppose Marquis's management wants to achieve a current ratio of 2.7 How much in current liabilities should Marquis pay off within the next two days in order to achieve its goal? Begin by determining the formula for the current ratio. Then select the amounts in the equation you will need to use to determine the amount of current liabilities Marquis Marketing Services should pay off within the next two days in order to achieve its goal Clot X be the amount of current liabilities to pay off) Current ratio 270 Using the equation you determined above, solve for the amount of current liabilities Marquis should pay off within the next two days in order to achieve its goal. (Round your answer to the nearest whole dollar) of current liabilities within the next To achieve a current ratio of 27 Marquis Marketing Services should pay off $ two days Requirement 2. Calculate Marquis's leverage ratio and debt ratio ignoring Requirement 1. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this exercise Evaluate the company's debt position Is it low high, or about average? What other information might help you to make a decision? Begin by computing the leverage ratio Select the formula for the leverage ratio. Then complete the formula and calculate the leverage ratio (Round your answer to two decimal places.) = Leverage ratio Now, select the formula for the debt ratio Then complete the formula and calculate the debt ratio (Round your answer to two decimal places Debt ratio Evaluate the company's debt position. Is it low high, or about average? What other information might help you to make a decision? The leverage ratio and debt ratio are The debt position is Othet helpful information would be the and 6 Data Table * Requirements Total current assets Noncurrent assets 324,900 1,074,000 1,398 900 $ 1. Suppose Marquis's management wants to achieve a current ratio of 27 How much in cutrent liabilities should Marquis pay off within the next two days in order to achieve its goal? 2. Calculate Marquis's leverage ratio and debt ratio ignoring Requirement 1 Use year-end figures in place of averages where nooded for the purpose of calculating ratios in this exercise Evaluate the company's debt position: Is it low high or about average? What other information might help you to make a decision2 $ Total current liabilities Noncurrent liabilities 173.800 245,500 978,600 1 3.900 Common stockholders' equity Print Done Print Done
