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As of December 31 Year 1Gant Corporation had a current ratio of 129, quick ratio of 1.05, and working capital of $18,000. The company uses

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As of December 31 Year 1Gant Corporation had a current ratio of 129, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2, Gant sold inventory on account for $6,000. Which of the following statements is incorrect? Multiple Choice Gant's working capital will increase Gant's quick ratio will increase O Gant's working capital will increase. Gant's quick ratio will increase Gant's current ratio will decrease. None of these answers are correct

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