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Use balance sheet to calculate liquidity ratios The balance sheet of Tooling Enterprise l td is presented below: Calculate the following liquidity ratios for 2016:

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The balance sheet of Tooling Enterprise l td is presented below: Calculate the following liquidity ratios for 2016: Current ratio test Acid-test ratio Receivable turnover Inventory turnover Compare and comment on the and position of the company in 2016 relative to 2105

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