Reference no: EM132824589
A recent balance sheet of Sweet Tooth, Inc., included the following items, among others. (Dollar amounts are stated in thousands.)
Cash$50,230
Marketable securities (short-term) 55,926
Accounts receivable 23,553
Inventories 32,210
Prepaid expenses 5,736
Retained earnings 121,477
Notes payable to banks (due within one year) 20,000
Accounts payable 5,912
Dividends payable 1,560
Accrued liabilities (short-term) 21,532
Income taxes payable 6,438
The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent.
Required:
Problem a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities.
Problem b. Compute Sweet Tooth's (1) quick ratio, (2) current ratio, (3) working capital, and (4) debt ratio. (Round ratios to 1 decimal place.)
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