Measures of solvency and credit risk
Shown below are selected items appearing in a recent balance sheet of Grant Products.(Dollar amounts are in thousands. )
(a)Compute the following:
(1)Total quick assets $________
(2)Total current assets $________
(3)Total current liabilities $________
(4)Quick ratio ________ to 1
(5)Current ratio ________ to 1
(b)Research indicates an industry average quick ratio is 1.3 to 1,and a current ratio of 2.3 to 1.Based upon this information,does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.

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Measures of solvency and credit risk
Shown below are selected items appearing in a recent balance sheet of Grant Products.(Dollar amounts are in thousands. )
  (a)Compute the following:
(1)Total quick assets $________
(2)Total current assets $________
(3)Total current liabilities $________
(4)Quick ratio ________ to 1
(5)Current ratio ________ to 1
(b)Research indicates an industry average quick ratio is 1.3 to 1,and a current ratio of 2.3 to 1.Based upon this information,does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.

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The Answer of Measures of solvency and credit risk
Shown below are selected items appearing in a recent balance sheet of Grant Products.(Dollar amounts are in thousands. )
  (a)Compute the following:
(1)Total quick assets $________
(2)Total current assets $________
(3)Total current liabilities $________
(4)Quick ratio ________ to 1
(5)Current ratio ________ to 1
(b)Research indicates an industry average quick ratio is 1.3 to 1,and a current ratio of 2.3 to 1.Based upon this information,does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.

Measures of Solvency and Credit Risk