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18. Ace Credit card company agree to transfer cash so seller company immediately upon deposit of that companys credit card sales receipts. Ace charges a 2% fee for all credit card sales. If seller company deposits $57,300 credit card sales receipts, which of the following statements is true?

A. Ace will receive $56,154 cash from Seller company

B. Seller company will receive cash $56,154 from Ace

C. Ace will receive $57,300 cash from Seller Company

D. Seller Company will receive $57,300 cash from Ace

E. Ace will pay Seller Company a $1,146 credit card fee

$1,146 eredit cand 19. A promissory note received from a customer in exelhange for sn A. Is a cash equivalent for the recipient B. Is an account receiveble for the recipient C. Is a note receivable for the recipient D. Is a short-term investment for the recipient E. Is a note payable for the recipient 20. The person who signs a note receivable and promises to pay the A. Maker B. Payee C. Holder principal and interest is the D. Receiver E. Owner Problems: (10 points) 1. The following information is available for Trico and its two main competitors in the industry (Duco and Unico): Trico Duco Unico $9.800 $10.500 $26,500 6.400 8.200 12.500 12.500 8.500 14350 30.150 40,000 0,150 Cash Short-term investments Accounts receivable Aferchandise inventory Prepaid expense 6.750 2.450 19,400 13.750 26.800 1,200 3.500 6.250 900 Accounts payable Salaries payable 600 1,200 2.150 Other current payables The industry standard for the current ratio is 1.8 Required: 1. Calculate the current ratio for each firm. Rank the firms in decreasing order of liquidity. Comment on Trico's relative liquidity position