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What are the firm current ratio and quick ratio

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Question - A firm's long-term assets = $70,000, total assets = $320,000, inventory = $30,000 and current liabilities = $20,000. What are the firm's current ratio and quick ratio?

Current ratio = 12.5; quick ratio = 11.0

Current ratio = 17.5; quick ratio = 16.0

Current ratio = 15.0; quick ratio = 13.5

Current ratio = 22.5; quick ratio = 21.0

Reference no: EM132978725

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