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The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The balance sheet reported the following: cash, $

The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The balance sheet reported the following: cash, $1,500,000; prepaid expenses, $560,000; long-term assets, $2,900,000; and shareholders' equity, $3,000,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.6.
Required:
Determine the following amounts and ratios:
Note: Round your "The acid-test ratio" answer to 1 decimal place.
\table[[1. Current liabilities,],[2. Long-term liabilities,],[3. Accounts receivable,],[4. The acid-test ratio,]]
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