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Jacob Inc has the following ratios: Current Ratio = 2 Cash Ratio = .50 Jacob Inc has CURRENT LIABILITIES = $1,000. Assume that Jacobs Current

Jacob Inc has the following ratios:

Current Ratio = 2

Cash Ratio = .50

Jacob Inc has CURRENT LIABILITIES = $1,000.

Assume that Jacobs Current Assets consists of only Cash, Accounts Receivable, and Inventory.

In other words, Current Assets = Cash and Accounts Receivable and Inventory.

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