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Suppose Lucy's Luxury Shoppe has cash of $8,745, inventory of $36,287, fixed assets of $14,204, accounts payable of $66,410, and accounts receivable of $20,033. What
Suppose Lucy's Luxury Shoppe has cash of $8,745, inventory of $36,287, fixed assets of $14,204, accounts payable of $66,410, and accounts receivable of $20,033. What is the current ratio? (Hint: determine CA and CL from the story problem. Remember that sometimes information is extraneous)
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