Look again at the balance sheet for Geomorph in Problem 10. Suppose that at year-end Geomorph had
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Look again at the balance sheet for Geomorph in Problem 10. Suppose that at year-end Geomorph had $30 in cash and marketable securities. Immediately after the year-end it used a line of credit to borrow $20 for one year, which it invested in additional marketable securities. Would the company appear to be ( a ) more or less liquid, ( b ) more or less highly leveraged? Make any additional assumptions that you need.
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