2) The following information is available for Flanders and its two main competitors in the industry, Sanders and Anders: Cash Short-term investments Accounts receivable Merchandise inventory Prepaid expense Accounts payable Salaries payable Other current payables Flanders $ 9,800 6,400 12,500 30,150 900 19.400 1,200 600 Sanders Anders $10,500 $26,500 8,200 12,500 8,500 14.350 40,000 40,150 6,750 2,450 13,750 26,800 3,500 6,250 1,200 2,150 Required: 1. Calculate the current ratio and acid-test ratio for each firm. Flanders Sanders Anders Curent ratio: 2) The following information is available for Flanders and its two main competitor industry, Sanders and Anders: Cash Short-term investments Accounts receivable Merchandise inventory Prepaid expense Accounts payable Salaries payable Other current payables Flanders $ 9,800 6,400 12,500 30,150 900 19,400 1,200 600 Sanders Anders $10,500 $26,500 8,200 12,500 8,500 14,350 40,000 40,150 6.750 2,450 13,750 26,800 3,500 6,250 1,200 2,150 Required: 1. Calculate the current ratio and acid-test ratio for each firm. Flanders Sanders Anders Current ratio: Acid test Ratio