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Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 $ 37,600 $ 32, 350 91,000 60,500 86,000 80,000 121, 500 125,500 12,200 9,800 388,500 338,500 112,900 108,300 711,500 676,500 390,500 375,500 Multiple Choice 0 0 0 0 0
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