You have the following information on Marco's Polo Shop: total liabilities and equity = $205 million,current liabilities = $45 million,inventory = $60 million,and quick ratio = 2.4 times.Using this information,what is the balance for fixed assets on Marco Polo's balance sheet?
A) $37m.
B) $97m.
C) $145m.
D) $157m.

Question

Quizplus · Accepted Answer

11ea8218_2a45_9347_bbd8_25f981c371b9_TB1326_00 => Current assets = (2.4 × $45m) + $60m = $168m.
=> Total assets = $205m = $168m + Fixed assets => Fixed assets = $205m − $168m = $37m.

You Have the Following Information on Marco's Polo Shop: Total