Compute the 2018 cash ratio. (Round your answer to two decimal places.)
The financial statements for Stephens' Electric Company include the following items:
A) 1.25
B) 1.38
C) 1.76
D) 0.67
A) 1.25
Cash ratio = (Cash + Cash equivalents) / Total current liabilities
Cash ratio = ($56,000 + $18,000) / ($42,000 + $17,000)
Cash ratio = $74,000 / $59,000
Cash ratio = 1.25
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