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& Secure http:/www.mathel.com/Student/PlayerHomework.aspx?heo 38iquestionld-18flushed-takecld- 5070437Bicenterwinsyes zohal yuridulah &721/18 5:20 PM ACCT-130-45: Financial Accounting- Summer 2018 (2018U78) Homework: Week 3: Chapter 5 Homework Score: 0.17 of 1 pt 41of5(1 complete) MN Score: 333%, 0 1701 5 pts & S5-15 (book/static) EQuestion Hep Highland Products reported the folowing amounts in Its 2017 financial statements. The 2016 amounts are given for compaison ?(Okk the icon to view the Insncial data) Requirements 1. Compute Highland's quick (adid test) ratio at the end of 2017 Reund to two decimal places How does the quick ratie compare with the induslthy average of 0 927 2. Compare days' sales outstanding for 2017 with the company's credit terns of net 30 days Requirement 1. Compute Highland s quick (acis-Sest) raio at the ond of 2017 Round to taro decinal places. How does the quick ratio compare with the industry average of 0 927 Cash and cash equivalents Round the Begin by selecting the formula, then eer the amounts and compute the quick (acid-esi) ratio (Abo ation used Cash quick (ecid-wenratio to bro decimal places.) Cash"+ Shon-1erm investments+Net cument recevatles 9703-15000 790q Total current liablbles 100 000 1 04 Enter any number in the edit felds and then cick Check Arswer Clear A Final Check 4PesainExplanation / Answer
As you have calculated the acid test ratio is 1.04.(information of item is not visible to me. That's why i am not able to cross check). However the industry average acid test ratio 0.92.
Acid test ratio of highland product is better as compare to industry.
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