Torstar Corporation is a media company that publishes newspapers and digital media. The company reports the following current assets and current liabilities at December in thousands
Accounts payable and accrued liabilities $
Assets held for sale $
Cash and cash equivalents $
Deferred revenue $
Derivative financial instruments
Income taxes payable $
Inventories $
Lease liabilities $
Prepaid expenses $
Provisions $
Receivables $
Restricted cash $
Part A is done and the correct answer is shown in the screenshot below.
I need help with PART B for acidtest ratio the incorrect answer is seen in the screenshot below bordered in red I already correctly figured out the current ratio seen in screenshot
For the AcidTest Ratio use the formula:
Cash Short term investments ReceivablesCurrent Liabiltes. Then include Restricted Cash in the numerator total.
