Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the quick Ratio for 2017? $ $ 8,650 7,260 415 975 84 891 312 $ Use the following information to answer this question.

What is the quick Ratio for 2017?
image text in transcribed
image text in transcribed
$ $ 8,650 7,260 415 975 84 891 312 $ Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 130 $ 160 Accounts payable Accounts rec 800 700 Long-term debt Inventory 1,510 1,545 Common stock Total $ 2,440 $ 2,405 Retained earnings Net fixed assets 3,210 3,670 Total assets $ 5,650 $ 6,075 Total liab. & equity $ 579 Cash 2016 $ 970 1,000 3,140 2017 $ 1,135 1,200 2,950 790 540 $ 5,650 $ 6,075 What is the quick ratio for 2017? What is the quick ratio for 2017? O a. 1.36 times O b. 2.12 times O c. 73 times O d. 1.98 times O e. .76 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

Recommended Textbook for

Commodity Futures Trading With Stops

Authors: Joseph R. Maxwell Sr.

1st Edition

0917832132, 978-0917832130

More Books

Students also viewed these Finance questions