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The top part of Rammy's Inc.'s 2018 balance sheet is listed as follows (in millions of dollars). Current assets: Current liabilities: Cash and marketable securities $ 5 Accrued wages and taxes $ 6 Accounts receivable 15 Accounts payable 10 Inventory 95 Notes payable 50 Total $ 115 Total $ 66 What are Mars, Inc.'s current ratio, quick ratio, and cash ratio for 2018?

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Answer:

Rammy's Inc or Mars, Inc

Current ratio

= 1.74

Quick ratio

= 0.3

Cash ratio

= 0.076

Explanation:

a) Data and Calculations:

Current assets:                                     Current liabilities:

Cash and marketable securities $ 5   Accrued wages and taxes $ 6

Accounts receivable                      15   Accounts payable                10

Inventory                                       95   Notes payable                     50

Total                                          $ 115   Total                                  $ 66

Current ratio = Current assets/Current liabilities

= $115/$66

= 1.74

Quick ratio = Current assets - Inventory/Current liabilities

= $20/$66

= 0.3

Cash ratio = Cash and marketable securities/Current liabilities

= $5/$66

= 0.076

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