Reference no: EM132674415
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
Problem 1: What is 2017 cash ratio? (Round your answer to two decimal places)
A. 0.19
B. 0.10
C. 0.35
D. 0.24
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