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solina solina
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6 years ago
Kannan Carpets, Inc. has asked you to calculate the company's current ratio for 2016. All you have is a partial balance sheet and some assumptions. Using the information provided, calculate Kannan's current ratio for 2001.

Gross profit margin = 50%
Inventory turnover (COGS/Inv) = 5
2016 sales = $3,000

Assets    Liabilities & Equity
Cash    ?    Accounts payable    $50
AR    $40    Accruals    ?
Inventory    ?    Long-term debt    $400
Net fixed assets    $500    Equity    250
Total assets    $900    Total liab. & equity    ?
A) 0.3
B) 0.8
C) 1.6
D) 2.2
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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Heavy Heart Thank you bio-forums! Heavy Heart
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LutionalLutional
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6 years ago
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Thanks!
Anonymous
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#6
7 months ago
Help! The answer is missing an explanation...
Anonymous
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#7
7 months ago
Quote from: Anonymous (7 months ago)
assumptions. Using the information provided, calculate Kannan's current ratio for 2001.

This should help!
Source  https://biology-forums.com/index.php?action=downloads;sa=view;down=15927
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Anonymous
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7 months ago
Help! The answer is missing an explanation...
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