Quick Ratio The following financial data is from Hi-Tech Instruments financial s

Question

Quick Ratio The following financial data is from Hi-Tech Instruments financial statements (thousands of dollars, except earnings per share) Sales revenu $210.000 Cost of goods sold 125.000 8300 2.600 Earnings per share 415 Net income Hi-Tech Instruments, Inc. ands of Dellars) Dec. 31, 2016 Dec. 31, 2015 9 300 $18.000 6.00041.000 9 500 Accounts receivablen Tocal curren assets Planc assets(ne 04,800102.700 52.60050500 15.600 172 000 13.800 Toral ass 167.000 Liabilidies and Scockholders Equity 6000 $6.000 22 500 18.00 Accounts payable 144 4 5 6 8 0

Explanation / Answer

Answer.

Current Assets = $104,800
Inventory = $39,500
Current Liabilities = $45,000

Quick Ratio = (Current Assets - Inventory) / Current Liabilities
Quick Ratio = ($104,800 - $39,500) / $45,000
Quick Ratio = 1.5

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