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The top part of Ramakrishnan, Inc.’s 2018 and 2017 balance sheets is listed below (in millions...

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Finance

The top part of Ramakrishnan, Inc.’s 2018 and 2017 balancesheets is listed below (in millions of dollars).

2018201720182017
Current assets:Current liabilities:
Cash and marketable securities$36$27Accrued wages and taxes$33$32
Accounts receivable144129Accounts payable8877
Inventory207188Notes payable7567
Total$387$344Total$196$176

Calculate Ramakrishnan, Inc.’s current ratio for 2018 and 2017.(Round your answers to 2 decimal places.)

Calculate Ramakrishnan, Inc.’s quick ratio for 2018 and 2017.(Round your answers to 2 decimal places.)

Calculate Ramakrishnan, Inc.’s cash ratio for 2018 and 2017.(Round your answers to 2 decimal places.)

Answer & Explanation Solved by verified expert
3.8 Ratings (615 Votes)

Current Assets for year 2018=   387  
Current liabilities for year 2018=   196  
Current Ratio = Current Assets/Current Liabilities      
387/196=   1.974489796


Current ratio is   1.97  


Inventory for year 2018=   207  
Quick ratio = (Total Current Assets - Inventories)/Total Current liabilities      
(387-207)/196      
=0.9183673469      
Quick ratio is    0.92  


Cash and cash equivalents=   36  
Cash ratio = Cash and cash equivalents/ Total Current liabilities      
36/196      
=0.1836734694      
cash ratio is   0.18  
      

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