Reference no: EM132483773
Determine quick ratio. My current assets are as follows:
Cash - 64,713.72
Baking supplies - 27,850.00
Merchandise inventory = 25,750.00
prepaid expenses (rent, insurance) = 7,900
office supplies = 250.00
Accounts receivable = 30,401.00
Current liabilities = 51,593.75
Question 1: Calculate the quick ratio by subtracting inventory from current assets (cash, baking supplies, accounts receivable, and office supplies)? So $123,214.72 / $51,593.75 = 2.39
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