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Calculate the current ratio and the acid-test ratio

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Question - The Copper Grill has the following current assets: cash, $11 million; receivables, $55 million; inventory, $40 million; and other current assets $6 million. The Copper Grill has the following liabilities: accounts payable, $37 million; current portion of long-term debt, $8 million; and long-term debt, $11 million. Based on these amounts, calculate the current ratio and the acid-test ratio for The Copper Grill.

Reference no: EM133041492

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