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ABC Corporation's financial statements show the following: Cash: $60,000 Accounts receivable: $35,000 Inventory: $30,000 Total current liabilities: $50,000 Total assets: $300,000 Total liabilities: $120,000 Net

  • ABC Corporation's financial statements show the following:

    • Cash: $60,000
    • Accounts receivable: $35,000
    • Inventory: $30,000
    • Total current liabilities: $50,000
    • Total assets: $300,000
    • Total liabilities: $120,000
    • Net income: $40,000

    Compute: a) Quick ratio b) Inventory turnover ratio c) Return on equity d) Operating profit margin

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