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In 2018 a company reported the following (in millions of dollars): Net Sales - $13.74 Cost of Goods Sold: $3.13 Income Taxes: $1.25 As of
In 2018 a company reported the following (in millions of dollars):
Net Sales - $13.74
Cost of Goods Sold: $3.13
Income Taxes: $1.25
As of December 31, 2018 the company had $0.85 in cash and securities, $1.34 in accounts receivable, and $1.39 in inventory.
It owed $1.83 in current liabilities and $1.74 in long-term debt.
Calculate the acid test ratio.
Enter the answer as a percentage, without the % symbol. Maintain 2 places after the decimal point. For example, 0.1234 must be entered as 12.34.
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