Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Cash

image text in transcribedimage text in transcribed

The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Cash and marketable securities Accounts receivable Inventory Total S 64 158 221 $ 443 S 55 143 202 $400 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total $ 47 102 61 $ 210 S 46 91 53 $190 Calculate Ramakrishnan, Inc.'s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 2020 Current ratio 2.05 times 2.04 times Calculate Ramakrishnan, Inc.'s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 2020 Quick ratio 1.00 times 0.98 times Calculate Ramakrishnan, Inc.'s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 2020 Quick ratio 1.00 times 0.98 times Calculate Ramakrishnan, Inc.'s cash ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 2020 Cash ratio 0.25 times 0.22 times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions