Question
XYZ Corp. has current assets of $12 million, current liabilities of $4 million, cash of $9 million, accounts receivable of $2 million, and inventory of
XYZ Corp. has current assets of $12 million, current liabilities of $4 million, cash of $9 million, accounts receivable of $2 million, and inventory of $1 million. XYZ has decided to use $2 million of its cash to buy additional inventory. What is the company's new quick ratio following this move?
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
