The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company year, August 3t; (Click the loon to view the balance sheet) Read the requirements Requirement 1. Suppose Patterson's management wants to achieve a current ratio of 2.7. How much in current Mobiles should Paterson 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 won you will need to use to determine the amount of current liabilities Patterson Marketing Services should pay off within the next two days in order to achieve its goal Lt be the amount of current les to pay Total current Total current abilities Current 1324 100-X $172.700-X 2.70 The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company's your, August 31: Click the icon to view the balance sheet.) Read the requirements Using the equation you determined above, tolve for the amount of current liabilities Patterson should pay off within the next two days in order to achieve the pool (Round your awwer to the nearest whole dollar) To achieve a current ratio of 27 Patterson Marketing Services should pay off of current abilities within the next two days Requirement 2. Calculate Patterson's leverage ratio and debt ratio ignoring Requirement 1 Use year-end figures in place of averages where needed for the purpose of calculating nation 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? The top management of Patterson 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 2. Calculate Patterson's leverage ratio and debt ratio ignoring Requirement 1 Use year-end figures in place of overiges where needed for the purpose of calculating ratios ir this excercise. 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. (Nound your answer to be 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 decimal places ht The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company's y Click the icon to view the balance sheet) Read the requirements 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 Other helpful information would be the and i Data Table Total current assets $ 324,600 1,098,500 Noncurrent assets $ 1,423,100 Total current liabilities $ Noncurrent liabilities 173,700 246,500 1,002,900 Common stockholders' equity $ $ 1,423,100 Print Done The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company year, August 3t; (Click the loon to view the balance sheet) Read the requirements Requirement 1. Suppose Patterson's management wants to achieve a current ratio of 2.7. How much in current Mobiles should Paterson 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 won you will need to use to determine the amount of current liabilities Patterson Marketing Services should pay off within the next two days in order to achieve its goal Lt be the amount of current les to pay Total current Total current abilities Current 1324 100-X $172.700-X 2.70 The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company's your, August 31: Click the icon to view the balance sheet.) Read the requirements Using the equation you determined above, tolve for the amount of current liabilities Patterson should pay off within the next two days in order to achieve the pool (Round your awwer to the nearest whole dollar) To achieve a current ratio of 27 Patterson Marketing Services should pay off of current abilities within the next two days Requirement 2. Calculate Patterson's leverage ratio and debt ratio ignoring Requirement 1 Use year-end figures in place of averages where needed for the purpose of calculating nation 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? The top management of Patterson 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 2. Calculate Patterson's leverage ratio and debt ratio ignoring Requirement 1 Use year-end figures in place of overiges where needed for the purpose of calculating ratios ir this excercise. 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. (Nound your answer to be 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 decimal places ht The top management of Patterson Marketing Services examines the following company accounting records at August 29, immediately before the end of the company's y Click the icon to view the balance sheet) Read the requirements 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 Other helpful information would be the and i Data Table Total current assets $ 324,600 1,098,500 Noncurrent assets $ 1,423,100 Total current liabilities $ Noncurrent liabilities 173,700 246,500 1,002,900 Common stockholders' equity $ $ 1,423,100 Print Done
