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16. The Saxe Sun & Shade Company had the following financial data at December 31, 2018: Cash and cash equivalents $ 36,000 Total current liabilities

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16. The Saxe Sun & Shade Company had the following financial data at December 31, 2018: Cash and cash equivalents $ 36,000 Total current liabilities 90,000 What is the cash ratio as of December 31, 2018, for Saxe Sun & Shade? Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.) Cash ratio =

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