Question need answrrs for both 22. The Dry Dock has inventory of $431,700, accounts payable of $94,200, cash of $51,950, and accounts receivable of $103,680. What is the cash ratio? A 64 B55 C53 D. 98 E 1.34 23. Towne Realty has total assets of $346,200, net fixed assets of $277,400, current liabilities of $16,100, and long-term liabilities of $124,600. What is the total debt ratio? A 47 B 41 C 68 D. 56 E 52

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need answrrs for both

Transcribed Image Text: 22. The Dry Dock has inventory of $431,700, accounts payable of $94,200, cash of $51,950, and accounts receivable of $103,680. What is the cash ratio? A 64 B55 C53 D. 98 E 1.34 23. Towne Realty has total assets of $346,200, net fixed assets of $277,400, current liabilities of $16,100, and long-term liabilities of $124,600. What is the total debt ratio? A 47 B 41 C 68 D. 56 E 52
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Transcribed Image Text: 22. The Dry Dock has inventory of $431,700, accounts payable of $94,200, cash of $51,950, and accounts receivable of $103,680. What is the cash ratio? A 64 B55 C53 D. 98 E 1.34 23. Towne Realty has total assets of $346,200, net fixed assets of $277,400, current liabilities of $16,100, and long-term liabilities of $124,600. What is the total debt ratio? A 47 B 41 C 68 D. 56 E 52
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22. Cash Ratio = (Cash + Marketable Securities) / Current Liabilities Cash = $51,950 Marketable Securities = $0 Current Liabilities =  Account Payable = $94,200 Cash Ratio = 51950/94,200 = 0.55 Thus option (B) is corr ... See the full answer