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Solve for (A) current ratio, (B) acid test (quick), (C) average day's collection, (D) asset turnover, and (E) profit margin on sales. Round to the
Solve for (A) current ratio, (B) acid test (quick), (C) average day's collection, (D) asset turnover, and (E) profit margin on sales. Round to the nearest hundredth or hundredth percent as needed. Current Assets $ 24,000 Accounts Receivable $ 4,300 Current Liabilities $ 17,000 Inventory $ 3,900 Net Sales $ 44,000 Total Assets $ 33,000 Net Income $ 7,000
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