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    katzacct's Avatar
    katzacct Posts: 1, Reputation: 1
    New Member

    Jan 24, 2011, 03:59 PM
    Annual sales and ACP
    A company's had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 6 times, total current assets of $675,000, and cash and marketable securities of $100.000 in 2007. What were the company's annual sales and its ACP for that year?
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
    Ultra Member

    Jan 24, 2011, 04:27 PM

    Please read the following announcement.

    The way to start this problem is to write your formulas for quick ratio, etc. Fill in the numbers you can - such as current assets. I worked through the problem to be sure you have all the info you need and you do. You will find that you can solve for one formula and that will give you the info to solve for another.

    Why don't you try? If you'll post what you get, we'll check it to see if you are on the right track, or guide you where needed.

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