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EXERCISE 14-8 Selected Financial Ratios (LO3,LO4) Recent below: financial statements for Madison Corporation, a company that sells drilling equipment, are given MADISON CORPORATION Balance Sheet

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EXERCISE 14-8 Selected Financial Ratios (LO3,LO4) Recent below: financial statements for Madison Corporation, a company that sells drilling equipment, are given MADISON CORPORATION Balance Sheet June 30 Assets Current assets: $ 21,000 160,000 300,000 9,000 Merchandise inventory (continued

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