Johnson Corp. had the following financial results for the fiscal 2004 year:
A.Current ratio
B.2.00
C.Quick ratio
D.1.25
E.Current liabilities
F.$100000
F.Inventory turnover
F.12
F.Gross profit %
F.25
参考答案:C
解析:The 25% GP indicates that the cost of goods sold is 75% of sales. The inventory is derived from the difference between current ratio and the quick ratio. The current ratio indicates that the current assets are $ 200000 and the quick assets are $125000. The difference represents the inventory of $ 75000. The inventory turnover is used to obtain cost of goods sold of $ 900000. The cost of goods sold is 75% of sales, indicating that sales are $1200000.