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The following accounting information exists for the Aspen and Willow companies: Cash Wages payable Merchandise inventory Building Accounts receivable Long-term notes payable Land Accounts

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The following accounting information exists for the Aspen and Willow companies: Cash Wages payable Merchandise inventory Building Accounts receivable Long-term notes payable Land Accounts payable Sales revenue Expenses Aspen Willow $ 17,000 $27,000 20,500 22,000 23,445 54,800 50,000 100,000 32,120 32,100 70,000 120,000 50,000 50,000 44,000 52,500 250,000 280,000 185,000 245,000 Required a-1. Determine the amount of current assets and current liabilities for each company. a-2. Compute the current ratio for each company. b. Assuming that all assets and liabilities are listed above, compute the debt-to-assets ratios for each company. c-1. Determine which company has the greater financial risk in the short term. c-2. Determine which company has the greater financial risk in the long term.

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