Question Completion Status: Income Statement For the Year Net sales COGS Depreci

Question

Question Completion Status: Income Statement For the Year Net sales COGS Depreciation $631,000 442,220 28,100 EBIT nterest $160,700 14,900 Taxable income Taxes $145,800 49,600 Net income 596,200 Balance Sheet Cash Accounts receivable nventory Net fixed assets Beginning End of Year of Year $38,200 $43,700 91,400 203,900 214,600 516,100537,950 86,150 Total assets $136,100 $104,300 Accounts payable Long-term debt Common stock ($1 par value 75,000 Retained earnings 329,500 298,200 309,000 397,900 $849,600 $882,400 82,000 Total Liab. & Equity

Explanation / Answer

Quick Ratio         =Cash + Accounts receivable / Accounts payable

= 43,700+86150/104300

= 129850/104300

=1.24

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