Business, 11.02.2022 22:20, rayne40

Ritter Company has a current ratio of 3.00 on December 31. On that date the company’s current assets are as follows: Cash $32,000

Short-term investments 49,300

Accounts receivable (net) 170,000

Inventory 200,000

Prepaid expenses 11,600

Current assets $462,900

Ritter Company’s current liabilities at the beginning of the year were $150,000 and during the year its operating activities provided a cash flow of $60,000.

a. What are the firm’s current liabilities on December 31?

$Answer

154,300

b. What is the firm’s working capital on December 31?

$Answer

308,600

c. What is the quick ratio on December 31?

Round answer to 2 decimal places.

Answer

1.63

d. What is the Ritter’s operating-cash-flow-to-current-liab ilities ratio?

Round answer to 2 decimal places.

Answer
.39

Answers: 2

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Ritter Company has a current ratio of 3.00 on December 31. On that date the company’s current assets...