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What is cash ratio

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Question - The financial statements of Clearwater Furniture Company include the following items:

 

2017

2016

Cash

$54,500

$48,000

Short-term Investments

$26,000

$10,000

Net Accounts Receivable

$97,000

$106,000

Merchandise Inventory

$156,000

$145,000

Total Assets

$525,000

$546,000

Total Current Liabilities

$230,000

$213,000

Long-term Note Payable

$60,000

$55,000

Required - What is 2017 cash ratio?

A. 0.19

B. 0.10

C. 0.35

D. 0.24

Reference no: EM132713472

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