Question
You are evaluating the balance sheet for PattyCake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $390,000; accounts
You are evaluating the balance sheet for PattyCake's 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.
Calculate PattyCakes' current ratio.(Round your answer to 2 decimal places.)
Current ratiotimes
Calculate PattyCakes' quick ratio.(Round your answer to 2 decimal places.)
Quick ratiotimes
Calculate PattyCakes' cash ratio.(Round your answer to 2 decimal places.)
Cash ratiotimes
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