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A firm's long-term assets = $30,000, total assets = $310,000, inventory = $39,000 and current liabilities...

A firm's long-term assets = $30,000, total assets = $310,000, inventory = $39,000 and current liabilities = $20,000. What are the firm's current ratio and quick ratio?(Round your answer to 1 decimal place.)

A)

 Current ratio = 16.5; quick ratio = 14.6

B)

 Current ratio = 24.0; quick ratio = 22.1

C)

 Current ratio = 19.0; quick ratio = 17.1

D)

 Current ratio = 14.0; quick ratio = 12.1

Solutions

Expert Solution

jeff jeffy answered 2 years ago
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