#) The following information is available for Flanders and its two main competitors in the industry, Sanders and Anders: Flanders Sanders Cash Anders 59,800 $10,500 $26,500 Short-term investments 6,400 8,200 12,500 Accounts receivable 12,500 8,500 14,350 Merchandise inventory 30,150 40,000 40,150 Prepaid expense 900 6,750 2.450 Accounts payable 19,400 13,750 26,800 Salaries payable 1,200 3,500 6,250 Other current payables 600 1,200 2,150 The industry standard for the current ratio is 1.8 and the industry standard for the acid-test ratio is 1. Required: 1. Calculate the current ratio and acid-test ratio for each firm. 2. Rank the firms in decreasing order of liquidity. 3, Comment on Flanders' relative liquidity position