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4. Shirli Company had a current asset of $5,000, current liabilities of $3,500, total assets of $7,200 and no long-term liabilities. If the company borrows
4. Shirli Company had a current asset of $5,000, current liabilities of $3,500, total assets of $7,200 and no long-term liabilities. If the company borrows $1,000 on a six month note, what is the new current ratio (Current assets/Current liabilities)? a. 1.11 b. 1.43 C. 1.33 d. 1.71 e. 1.94
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