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Determine what is the cash ratio

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The financial states of Clearwater Furniture Company includes the following items:

                                                          2017                      2016

Cash.                                        $54,500          $48,000

Short-term Investments                 26,000           10,000

Net Acct Receivable                        97,000         106,000

Merchandize Inventory.                 156,000           145,000

Total Assets                                  525,000        546,000

Total Current Liabilities.                  230,000          213,000

Long Term Note Investments.                60,000           55,000

Question 1: What is the 2017 cash ratio? (Round to answer to two decimal places)

Option A. 0.35

Option B. 0.19

Option C. 0.24

Option D. 0.10

Reference no: EM132572675

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