Quick ratio evans and sons, inc. income statement (in millions)
2019 2018
net sales $9,800 $9,300
cost of goods sold (5,500) (5,200)
gross profit 4,300 4,100
selling and administrative expenses (2,800) (2,700)
income from operations 1,500 1,400
interest expense (300) (250)
income before income taxes 1,200 1,150
income tax expense (220) (200)
net income $980 $950
evans and sons, inc. balance sheet (in millions)
2019 2018
assets
current assets
cash and cash equivalents $100 $300
accounts receivable 900 800
inventory 500 650
other current assets 400 250
total current assets 1,900 2,000
property, plant & equipment, net 2,600 2,500
other assets 5,700 5,900
total assets $10,200 $10,400
liabilities and stockholders' equity
current liabilities $3,000 $2,900
long-term liabilities 5,000 5,400
total liabilities 8,000 8,300
stockholders' equity-common 2,200 2,100
total liabilities and stockholders' equity $10,200 $10,400
required :
1. calculate the quick ratio for evans & sons, inc., for 2018 and 2019.
round answers to two decimal places.

Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairs—factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.

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