Exercise 4-14 Computing and analyzing acid-test and current ratios LO A1 Compute the current ratio and acid-test ratio for each of the following separate cases. Torino Camaro GTO $2,850 $1,500 Cash 320 Short-term investments 0 0 400 Current receivables 350 600 500 Inventory Prepaid expenses 2,400 2,200 3,500 400 700 900 $6,000 $3,820 $6,800 Total current assets $2,400 $1,410 $4,000 Current 1iabilities Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro / to 1 GTO to 1 Torino to 1 Acid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Camaro to 1 GTO to 1 Torino to 1