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Calculate the current ratio and acid-test ratio for business

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Probolem 1: Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business:

Cash $ 52,800
Short-term investments. $ 9,500
Accounts receivable 49,000
Inventory 180,000
Prepaid expenses. 10,430
Accounts payable 103,500
Other current payables. 30,600

Reference no: EM132787096

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