- ACC 205 Week 5 Exercise 1 Liquidity ratios
. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:
| Edison | Stagg | Thornton | |
| Cash | $4,000 | $2,500 | $1,000 |
| Short-term investments | 3,000 | 2,500 | 2,000 |
| Accounts receivable | 2,000 | 2,500 | 3,000 |
| Inventory | 1,000 | 2,500 | 4,000 |
| Prepaid expenses | 800 | 800 | 800 |
| Accounts payable | 200 | 200 | 200 |
| Notes payable: short-term | 3,100 | 3,100 | 3,100 |
| Accrued payables | 300 | 300 | 300 |
| Long-term liabilities | 3,800 | 3,800 | 3,800 |
- Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?
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