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Business, 12.06.2020 15:57 Hollywood0122

Selected financial information for Omega Corporation are as follows: Category Value 1. Cash and equivalents $500,000 2. Accounts receivable $1,000,000 3.Inventory $800,000 4.Prepaid expenses $100,000 5.Accounts payable $1,200,000 6.Accrued wages payable $100,000 7.Cost of goods sold $3,000,000 Using the above information, compute the following ratios: Current ratio Quick ratio Average payment period What do these ratios tell you about the company?

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