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Question 13 Not yet answered Marked out of 1.00 Flag question Question text The fiscal 2016...

Question 13

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Question text

The fiscal 2016 balance sheet for Whole Foods Market reports the following data (in millions).

Cash and Cash

Equivalents

Marketable Securities

Accounts Receivable

Merchandise

Inventories

Current

Assets

Current

Liabilities

$351

$379

$242

$517

$1,975

$1,341

What is the company's quick ratio?

Select one:

A. 0.69

B. 1.38

C. 0.72

D. 1.47

E. None of the above

Expert Solution

Answer: C. 0.72

Explanation

Quick Ratio

(Current Assets -Inventories)	/	Current Liabilities	=	Quick Ratio
(1,489 - 517)	/	1,341.00	=	0.72	:1

Current assets
Cash and cash equivalents	351.00
Marketable securities	379.00
Accounts receivable	242.00
Merchandise Inventories	517.00
Total	1,489.00

ekkarill92 answered 2 years ago

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