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A firm has Net Income of $1,000,000. Its Current Assets is $100,000 and Current Liabilities is $75,000. Its Total Assets is $500,000 and Total Debt

A firm has Net Income of $1,000,000. Its Current Assets is $100,000 and Current Liabilities is $75,000. Its Total Assets is $500,000 and Total Debt is $600,000. This firm is: a technically insolvent b. Insolvent in bankruptcy C. in default

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