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You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000; accounts receivable = $1,200,000; inventory = $2,100,000; accrued wages and taxes = $500,000; accounts payable = $800,000; and notes payable = $600,000. Calculate PattyCake’s current ratio. (Round your answer to 2 decimal places.) Current ratio times: Calculate PattyCake’s quick ratio. (Round your answer to 2 decimal places.) Quick ratio times: Calculate PattyCake’s cash ratio. (Round your answer to 2 decimal places.) Cash ratio times:

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91726663

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