Homework Answers
Fitcom Corporation:
Current ratio=Current assets/Current Liabilities
=(4500/3375)=1.3333(Approx).
Quick ratio=(Current assets-Inventory)/Current Liabilities
=(4500-1980)/3375)=0.7467(Approx).
Scramouche Opera Company:
Current ratio=Current assets/Current Liabilities
=(7000/4219)=1.6592(Approx).
Quick ratio=(Current assets-Inventory)/Current Liabilities
=(7000-3080)/4219)=0.9291(Approx).
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