Calculate pattycakes cash ratio and current ratio

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Reference no: EM131307917

You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the following balances: cash and market able securities = $500,000; accounts receivable = $1,000,000; inventory = $1,900,000; accrued wages and taxes = $400,000; accounts payable = $700,000; and notes payable = $400,000.

Calculate PattyCakes’ current ratio. (Round your answer to 2 decimal places.)

Current ratio times

Calculate PattyCakes’ quick ratio. (Round your answer to 2 decimal places.)

Quick ratio times

Calculate PattyCakes’ cash ratio. (Round your answer to 2 decimal places.)

Cash ratio times

Reference no: EM131307917

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