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Calculate the Current ratio and Acid-Test ratio

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Reference no: EM132493210

Question - Baron Company reported the following data:

Cash $80,000

Accounts receivable 120,000

Marketable securities 40,000

Inventory 100,000

Prepaid rent expense 10,000

Accounts payable 70,000

Current portion of long-term debt 140,000

Net credit sales 1,000,000

Cost of goods sold 600,000

Required - Calculate the following ratios:

i. Current ratio

ii. Quick ratio

iii. Acid-Test ratio

Reference no: EM132493210

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