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You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the...

You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $360,000; accounts receivable = $1,280,000; inventory = $2,180,000; accrued wages and taxes = $540,000; accounts payable = $840,000; and notes payable = $680,000. Calculate PattyCakes’ current ratio. (Round your answer to 2 decimal places.) Calculate PattyCakes’ quick ratio. (Round your answer to 2 decimal places.) Calculate PattyCakes’ cash ratio. (Round your answer to 2 decimal places.)

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ekkarill92 answered 5 months ago
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