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Spartan Sportswear's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory
Spartan Sportswear's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 250,000 $ 800,000 2.70 1.45 1.50 Required: Compute the long-term liabilities for Spartan: Long-term liabilities
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