Shown below are selected items appearing in a recent

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Reference no: EM13377919

Shown below are selected items appearing in a recent balance sheet of Grant Products. (Dollar amounts are in thousands.)

1798_Does Grant Products appear more or less solvent.png

(a) Compute the following:

(1) Total quick assets $____________

(2) Total current assets $____________

(3) Total current liabilities $____________

(4) Quick ratio ______ to 1

(5) Current ratio ______ to 1

(b) Research indicates an industry average quick ratio is 1.3 to 1, and a current ratio of 2.3 to 1. Based upon this information, does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.

Reference no: EM13377919

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