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Calculate sophielex current ratio

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Reference no: EM133047182

Question - You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $410,000; accounts receivable = $1,180,000; inventory = $2,080,000; accrued wages and taxes = $490,000; accounts payable = $790,000; and notes payable = $580,000.

Required -

1. Calculate SophieLex's current ratio.

2. Calculate SophieLex's quick ratio.

3. Calculate SophieLex's cash ratio.

Reference no: EM133047182

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