Question
You are evaluating the balance sheet for SophieLexs Corporation. From the balance sheet you find the following balances: cash and marketable securities = $260,000; accounts
You are evaluating the balance sheet for SophieLexs Corporation. From the balance sheet you find the following balances: cash and marketable securities = $260,000; accounts receivable = $1,400,000; inventory = $2,300,000; accrued wages and taxes = $600,000; accounts payable = $900,000; and notes payable = $800,000.
Calculate SophieLexs current ratio. (Round your answer to 2 decimal places.)
Calculate SophieLexs quick ratio. (Round your answer to 2 decimal places.)
Calculate SophieLexs cash ratio. (Round your answer to 2 decimal places.)
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