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Phillips, Inc. had the following financial data for the year ended December 31, 2019. Cash $41,000 Cash equivalents 80,000 Long term investments 59,000 Total current

Phillips, Inc. had the following financial data for the year ended December 31, 2019. Cash $41,000 Cash equivalents 80,000 Long term investments 59,000 Total current liabilities 149,000 What is the cash ratio as of December 31, 2019, for Phillips, Inc.? (Round your answer to two decimal places.)

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