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Selected condensed data taken from a recent balance sheet of Carla Vista Inc. are as follows. CARLA VISTA INC. Balance Sheet (partial) Cash $2,352,000 Short-term

Selected condensed data taken from a recent balance sheet of Carla Vista Inc. are as follows.

CARLA VISTA INC. Balance Sheet (partial)

Cash

$2,352,000

Short-term investments

4,962,000

Accounts receivable

6,430,000

Inventory

20,839,000

Prepaid assets

571,000

Total current assets

$35,154,000

Total current liabilities

$18,484,000

(a) Calculate the (1) current ratio and (2) acid-test ratio. (Round current ratio to 1 decimal place, e.g. 52.7 and acid-test ratio to 2 decimal places, e.g. 52.75.)

1.

Current ratio

enter Current ratio rounded to 1 decimal place
2.

Acid-test ratio

enter Acid-test ratio rounded to 2 decimal places

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