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Taya2010 [7]
3 years ago
6

Saved Balance Sheet Current assets Cash 910,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,710,000 TOTAL ASSE

TS 7,000,000 Current liabilities Acc payable not given Long-term debt 3,500,000 Common stock 560,000 Retained earnings 2,470,000 TOTAL LIAB and EQUITY 7,000,000 Income Statement Sales 14,000,000 Operating expense 11,200,000 EBIT 2,800,000 Interest expense 490,000 EBT 2,310,000 Taxes 924,000 Net income 1,386,000 What is the firm's quick ratio
Business
1 answer:
Troyanec [42]3 years ago
5 0

Answer:

quick ratio = 4.77

Explanation:

quick ratio = (current assets - inventory) / current liabilities

current assets = $910,000 + $1,330,000 + $1,050,000 = $3,290,000

inventory = $1,050,000

current liabilities = $470,000

quick ratio = ($3,290,000 - $1,050,000) / $470,000 = 4.766 ≈ 4.77

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If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition)

<h3>What is the marginal revenue curve for a perfectly competitive firm?</h3>
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Marginal revenue is the change in total revenue when one more unit of a commodity is sold.

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AR=TR/Q

Relationship between AR and MR:

If AR is constant, MR is equal to AR.

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