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A restaurant's balance sheet data is presented in the table below. In 20X1, total revenue was $500,000, cost of sales was $150,000, and the proportion
A restaurant's balance sheet data is presented in the table below. In 20X1, total revenue was $500,000, cost of sales was $150,000, and the proportion of sales on credit was 55%. In 20X2, total revenue was $1,250,000, the cost of sales was $360,000, and the proportion of sales on credit was 40%. Answer the questions below the table. calculate current asset ratio
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