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Determine the corporation acid-test ratio

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Reference no: EM133186997

Question - Data from Fontecchio Corporation's most recent balance sheet appear below:

Cash $29,000

Marketable securities $32,000

Accounts receivable $73,400

Inventory $70,000

Prepaid expenses $24,000

Current liabilities $192,000

Required - Determine the corporation's acid-test ratio?

Reference no: EM133186997

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