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Measures of solvency and credit risk
Shown below are selected items appearing in a recent balance sheet of Grant Products. (Dollar amounts are in thousands.)
(a) Compute the following:
(1) Total quick assets $____________
(2) Total current assets $____________
(3) Total current liabilities $____________
(4) Quick ratio ______ to 1
(5) Current ratio ______ to 1
(b) Research indicates an industry average quick ratio is 1.3 to 1, and a current ratio of 2.3 to 1. Based upon this information, does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.
Windings
Coils of wire, typically copper, wound around a core or form, used in electrical machines and devices to generate magnetic fields or induce voltages.
Drive Gear
A gear that transmits power from the engine to the drivetrain in a vehicle, facilitating movement.
Armature
The rotating coil or core of a generator or motor on which the winding is placed and electrical current is induced.
Driveshaft
A mechanical component for transmitting torque and rotation, usually used in vehicles to connect other components of the drivetrain that cannot be directly connected.
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