Calculate pattycakes current ratio quick ratio and cash, Financial Management

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Calculate pattycakes current ratio quick ratio and cash

Liquidity ratios You are evaluating the balance sheet for PattyCake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000; accounts receivable= $1,200,000; inventory= $2,100,000; accrued wages and taxes= $500,000; accounts payable= $800,000; and notes payable= $600,000. Calculate PattyCake's current ratio, quick ratio, and cash ratio.

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