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At year-end, Spring Company has cash of $9.000, current accounts receivable of $50,000, merchandise inventory of $21,000, and prepaid expenses totaling $5,000. Liabilities of $20,000
At year-end, Spring Company has cash of $9.000, current accounts receivable of $50,000, merchandise inventory of $21,000, and prepaid expenses totaling $5,000. Liabilities of $20,000 must be paid next year. What is Spring's acid-test ratio? (Round your answers to two decimal places.) O 2.95 O 4.00 O 0.45 Cannot be determined from the data given
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