Liquidity Ratios
The top part of Ramakrishnan, Inc.’s 2018 and 2017 balance sheets is listed below (in millions of dollars). 2018 2017 2018 2017 Current assets: Current liabilities: Cash and marketable securities $ 58 $ 49 Accrued wages and taxes $ 44 $ 43 Accounts receivable 155 140 Accounts payable 99 88 Inventory 218 199 Notes payable 64 56 Total $ 431 $ 388 Total $ 207 $ 187
1. Calculate Ramakrishnan, Inc.’s current ratio for 2018 and 2017. (Round your answers to 2 decimal places.)
2. Calculate Ramakrishnan, Inc.’s quick ratio for 2018 and 2017. (Round your answers to 2 decimal places.)
3. Calculate Ramakrishnan, Inc.’s cash ratio for 2018 and 2017. (Round your answers to 2 decimal places.)