5.000.000 Sales Cost of goods sold Greas Froßt 2,000,000 1,700,000 Selling and administrative expenses Operating profit

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5 000 000 Sales Cost Of Goods Sold Greas Frosst 2 000 000 1 700 000 Selling And Administrative Expenses Operating Profit 1 (33.72 KiB) Viewed 25 times

5.000.000 Sales Cost of goods sold Greas Froßt 2,000,000 1,700,000 Selling and administrative expenses Operating profit 300,000 50,000 Interest expense Income before tax 250,000 100.000 Tax expense Net income 150,000 2005 2004 Cash 80,000 $ 90,000 810,000 Accounts receivable 800,000 Inventory 800,000 720,000 Total Curreat assets 1,700,000 1,600,000 Fixed assets 2,600,000 2,400,000 Total assets 4,300,000 4,000,000 Accounts payable 500,000 400,000 Bank loan 100,000 100,000 Total current habilities 600,000 500,000 Bonds payable 400,000 300,000 Total liabilities 1,000,000 800,000 Common stock (20,000 shares) 500,000 500,000 etained earnings 2,800,000 2,700,000 otal liabilities and shareholders' eq 4,300,000 4,000,000 te: The common shares are trading in the stock market for $27 each. The firm's quick ratio for 2005 is A) 1.30 B) 1.50 C) 1.69 D) 2.83 Balance Sheet $