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Carl Lester has liquid assets of $3,240 and current liabilities of $3,850. (a) What is his current ratio? (Round your answer to 1 decimal place.)

Carl Lester has liquid assets of $3,240 and current liabilities of $3,850.

(a) What is his current ratio? (Round your answer to 1 decimal place.)

(b) Which comment best describes his financial position?

Higher than the desirable ratio 2.0
Equal to the desirable ratio 2.0
Lower than the desirable ratio 2.0

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