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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash $52,800 Short-term investments $ 9,500

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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash $52,800 Short-term investments $ 9,500 Accounts receivable 49,000 Inventory 180,000 Prepaid expenses 10,430 Accounts payable 103,500 30,600 Other current payables 2.25 and 0.83 1.25 and 0.83 0.44 and 1.20 1.25 and 1 2.71 and 1.20

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