a. Compute Sweet Tooth’s (1) q

A recent balance sheet of Sweet Tooth, Inc., included the following items, among others. (Dollar amounts are stated in thousands.)


Cash $ 50,230  
Marketable securities (short-term)   55,926  
Accounts receivable   23,553  
Inventories   32,210  
Prepaid expenses   5,736  
Retained earnings   121,477  
Notes payable to banks (due within one year)   20,000  
Accounts payable   5,912  
Dividends payable   1,560  
Accrued liabilities (short-term)   21,532  
Income taxes payable   6,438  


The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent.



a. Compute Sweet Tooth’s (1) quick assets, (2) current assets, and (3) current liabilities.

b. Compute Sweet Tooth’s (1) quick ratio, (2) current ratio, (3) working capital, and (4) debt ratio. (Round ratios to 1 decimal place.)





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