(SOLVED)- Refer to the financial statements in Appendix B for Leon s


Question Description:

$19

Refer to the financial statements in Appendix B for Leon’s Furniture Limited and in Appendix C for Shoppers Drug Mart.
a. Calculate the quick ratio for both companies as at December 31, 2011.
b. Comment on the ratios. Which company is in a better position when considering the quick ratio?

Answer

$19