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Concord Industries has the following current assets and liabilities on the company's balance sheet: Cash $17000; Accounts Receivable $6000: Inventory $54000 :Prepaid Rent $2700 :

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Concord Industries has the following current assets and liabilities on the company's balance sheet: Cash $17000; Accounts Receivable \$6000: Inventory $54000 :Prepaid Rent $2700 : Accounts Payable $22500; and Unearned Revenue $2500. The company's acid-testratiowould be 109:110.31:10.92:1107:1

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