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Billy Bob's Towing & Repair Service has provided the following financial information (see below). Determine the Current ratio and the Quick ratio. Select the best
Billy Bob's Towing & Repair Service has provided the following financial information (see below). Determine the "Current ratio" and the "Quick ratio". Select the best answer from the ones shown below. S 200,000 80,000 160,000 75,000 42,000 66,000 12,000 Cash Accounts receivable Accounts payable Securities Parts inventories Prepaid expenses Accrued expenses Current Ratio 2.05, Quick ratio 1.77 Current ratio = 1.22, Quick ratio 1.21 Current ratio = 1.62, Quick ratio 1.62 Current ratio 2.45, Quick ratio 2.06
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