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Question - Based on the following data, what is the quick ratio, rounded to one decimal point?
Accounts payable $31,000
Accounts receivable 70,000
Accrued liabilities 12,000
Cash 32,000
Intangible assets 60,000
Inventory 72,000
Long-term investments 85,000
Long-term liabilities 108,000
Marketable securities 38,000
Fixed assets 670,000
Prepaid expenses 1,000
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At that point, there was $66,000 remaining to be allocated on a 3:4:5 ratio, to Don, Frank, and Elmer, respectively. What is the ending balance of Don's capital
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There are no other expenses The beginning cash balance (Q1 beginning) is $30 million How much will be the cash balance at the end of Quarter 3
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