Brief Exercise 172 (Part Level Submission) Selected financial statement data for Freeman Company are presented below.

12/31/17
Cash	$10,000
Short-term investments	20,000
Accounts receivable	60,000
Inventories	75,000
Total current liabilities	100,000

(a)

	Your answer is correct.

Compute thecurrentratio at December 31, 2017.(Round answer to 2 decimal places, e.g. 2.15:1)

Currentratio

:1

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(b) Compute theacid-test ratio at December 31, 2017.(Round answer to 2 decimal places, e.g. 2.15:1)

Acid-test ratio

:1