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You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $480,000;
You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $480,000; accounts receivable = $1,040,000; inventory = $1,940,000; accrued wages and taxes = $420,000; accounts payable = $720,000; and notes payable = $440,000. Calculate Patty Cakes' current ratio. (Round your answer to 2 decimal places.) Current ratio times Calculate Patty Cakes' quick ratio. (Round your answer to 2 decimal places.) Quick ratio times Calculate Patty Cakes' cash ratio. (Round your answer to 2 decimal places.) Cash rato imes
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