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The following presents the balance sheet for Firm K. Calculate the Quick Ratio for Firm K. Total Assets: 2,000 o Current Assets: 600 - Cash:

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The following presents the balance sheet for Firm K. Calculate the Quick Ratio for Firm K. Total Assets: 2,000 o Current Assets: 600 - Cash: 100 Receivables: 200 Inventory 300 o Noncurrent Assets: 1,400 Net PP&E: 1,100 Other NCA: 300 Total Liabilities: 1,500 o Current Liabilities: 700 . Current Debt: 250 Payables: 300 Accruals: 150 o Noncurrent Liabilities: 800 Long Term Debt: 800 Total Equity: o Common Stock 400 Retained Earnings 100 500

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