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Please explain your work, thank you!! Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year
Please explain your work, thank you!! Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year $38,800 33,558 Cash Short-term investments 103,00 66, see Accounts receivable, net 92,000 86,08e Merchandise inventory 127,500 131,500 Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 13,400 11,000 394, 500 344,500 106,980 114,300 717,500 682,500 396, 5e0 381,5e0
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