Liquidity and Asset Management Ratios Oasis Products, Inc. has current liabilities = $11.0 million, current ratio = 1.50 times, inventory turnover ratio = 12.0 times, average collection period = 20 days, and sales = $112 million. What is the value of their cash and marketable securities? (Consider 365 days a year.)
A. $19,303,652
B. $1,029,681
C. $9,333,333
D. $16,500,000
Answer: B
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