Question
In: Finance
The top part of Ramakrishnan, Inc.’s 2018 and 2017 balance sheets is listed below (in millions...
The top part of Ramakrishnan, Inc.’s 2018 and 2017 balance sheets is listed below (in millions of dollars).
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Current assets: | Current liabilities: | |||||||||||||||
| Cash and marketable securities | $ | 36 | $ | 27 | Accrued wages and taxes | $ | 33 | $ | 32 | |||||||
| Accounts receivable | 144 | 129 | Accounts payable | 88 | 77 | |||||||||||
| Inventory | 207 | 188 | Notes payable | 75 | 67 | |||||||||||
| Total | $ | 387 | $ | 344 | Total | $ | 196 | $ | 176 | |||||||
Calculate Ramakrishnan, Inc.’s current ratio for 2018 and 2017. (Round your answers to 2 decimal places.)
Calculate Ramakrishnan, Inc.’s quick ratio for 2018 and 2017. (Round your answers to 2 decimal places.)
Calculate Ramakrishnan, Inc.’s cash ratio for 2018 and 2017. (Round your answers to 2 decimal places.)
Solutions
Expert Solution
Current Assets for year 2018= 387
Current liabilities for year 2018=
196
Current Ratio = Current Assets/Current Liabilities
387/196= 1.974489796
Current ratio is 1.97
Inventory for year 2018= 207
Quick ratio = (Total Current Assets - Inventories)/Total Current
liabilities
(387-207)/196
=0.9183673469
Quick ratio is 0.92
Cash and cash equivalents= 36
Cash ratio = Cash and cash equivalents/ Total Current
liabilities
36/196
=0.1836734694
cash ratio is 0.18
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jeff jeffy answered 4 months agoRelated Solutions
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12/31/2017
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December 31
2018
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Inventory
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4
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100
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