Answer:
$5,569,634
Explanation:
Current ratio = current assets = 2× $9,500,000= $19,000,000
Inventory turnover = 12 times = $65,000,000÷ 12= $ 5,416,667
Average collection period (APC) = 45 days = account receivable × 365 days
=> Account receivable = (45 × $65,000,000 )÷ 365 days = $8,013,699
=> cash and marketable securities =$ 19,000,000 - $5,416,667- $8,013,699 = $5,569,634
