Question
You are evaluating the balance sheet for PattyCakes Corporation. From the balance sheet you find the following balances: cash and marketable securities = $390,000; accounts
You are evaluating the balance sheet for PattyCakes Corporation. From the balance sheet you find the following balances: cash and marketable securities = $390,000; accounts receivable = $1,220,000; inventory = $2,120,000; accrued wages and taxes = $510,000; accounts payable = $810,000; and notes payable = $620,000. I have been stuck on this question for over 10 minutes..
Calculate PattyCakes current ratio__times. (Round your answer to 2 decimal places.)
Calculate PattyCakes quick ratio__times. (Round your answer to 2 decimal places.)
Calculate PattyCakes cash ratio__times. (Round your answer to 2 decimal places.)
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