Question
You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities $490,000; accounts
You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities $490,000; accounts receivable = $1,020,000; inventory = $1,920,000; accrued wages and taxes = $410,000; accounts payable = $710,000; and notes payable = $420,000. Calculate SophieLex's current ratio, quick ratio, and cash ratio. Note: Round your answers to 2 decimal places. Current ratio times Quick ratio times Cash ratio times
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Entrepreneurial Finance
Authors: J . chris leach, Ronald w. melicher
4th edition
538478152, 978-0538478151
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