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S7-11 (similar to) Summer Banners reported the following figures in its financial statements: Cash Cash Equivalents Total Current Liabilities 21,000 63,000 70,000 Compute the cash

S7-11 (similar to) Summer Banners reported the following figures in its financial statements: Cash Cash Equivalents Total Current Liabilities 21,000 63,000 70,000 Compute the cash ratio for Summer Banners. Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.) Cash ratio

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