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The following information is available for Flanders and its two main competitors in the industry,...

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Question

Accounting

The following information is available for Flanders and its two main competitors in the industry, Sanders and Anders:

Flanders

Sanders

Anders

Cash

$ 9,800

$10,500

$26,500

Short-term investments

6,400

8,200

12,500

Accounts receivable

12,500

8,500

14,350

Merchandise inventory

30,150

40,000

40,150

Prepaid expense

900

6,750

2,450

Accounts payable

19,400

13,750

26,800

Salaries payable

1,200

3,500

6,250

Other current payables

600

1,200

2,150

Required:

  1. Calculate the current ratio and acid-test ratio for each firm.

Flanders Sanders Anders

Current ratio:

Acid test Ratio:

Answer & Explanation Solved by verified expert
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