Question
The top part of Ramakrishnan, Incorporateds 2024 and 2023 balance sheets is listed below ( in millions of dollars ). 2024 2023 2024 2023 Current
The top part of Ramakrishnan, Incorporated’s 2024 and 2023 balance sheets is listed below (in millions of dollars).
| 2024 | 2023 | 2024 | 2023 | ||
|---|---|---|---|---|---|
| Current assets: | Current liabilities: | ||||
| Cash and marketable securities | $ 74 | $ 65 | Accrued wages and taxes | $ 52 | $ 51 |
| Accounts receivable | 163 | 148 | Accounts payable | 107 | 96 |
| Inventory | 226 | 207 | Notes payable | 56 | 48 |
| Total | $ 463 | $ 420 | Total | $ 215 | $ 195 |
Calculate Ramakrishnan, Incorporated’s current ratio, quick ratio, and cash ratio for 2024 and 2023.
Current ratio2024times2023times
Quick ratio2024times2023
Cash ratio2024times2023times
Step by Step Solution
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Step: 1
Solution To calculate the ratios we need to use the following formulas Current ratio Current assets ...
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
6th Edition
1264101589, 9781264101580
